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Peak oil in Africa part1: OPEC quotas Jan 2021

January 29, 2021

Peak oil in Africa part1: OPEC quotas Jan 2021 We examine whether OPEC’s quotas for its African members are actually on the production decline path of these countries. OPEC’s quota levels can be found here: https://www.opec.org/opec_web/static_files_project/media/downloads/Voluntary%20Production%20Levels.pdf At present 7 oil producing countries in Africa are members of OPEC: Algeria, Nigeria, Libya, Angola (2007), Gabon (2016), […]

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WTI Extends Losses After Production Rebounds To Record

December 28, 2018

WTI Extends Losses After Production Rebounds To Record WTI has slid lower overnight following API’s surprise large crude build (and no equity pump) and was unable to hold gains after a bigger than expected gasoline build (and tiny crude draw) along with a production rebound to record highs. If U.S. crude output rises, it’s likely […]

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OPEC October Production Data

November 14, 2018

OPEC October Production Data All OPEC data below is from the OPEC Monthly Oil Market Report The data is through October 2018 and is in thousand barrels per day. OPEC 15 crude oil production was up 127,000 barrels per day in October. that was after September production was revised upward by 13,000 bpd. OPEC production […]

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WTI Slumps To $61 Handle After US Crude Production Soars To New Record High

November 7, 2018

WTI Slumps To $61 Handle After US Crude Production Soars To New Record High Despite sliding after last night’s API-reported big Crude and Cushing build, WTI has rebounded overnight amid a post-midterms tumbling dollar, but a larger crude build than expected from DOE, combined with a smaller gasoline draw, could lead to WTI “set to […]

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What happened to crude oil production after the first peak in 2005?

September 18, 2018

What happened to crude oil production after the first peak in 2005? The IEA (in Paris) proudly announced in its latest September 2018 Monthly Oil Market Report that global supplies (of liquids) have reached 100 mb/d in August, an impressive figure. What matters, however, is crude oil production, something the IEA does not show in […]

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Rig Count Drops As U.S. Crude Output Hit 11 Million Bpd

Rig Count Drops As U.S. Crude Output Hit 11 Million Bpd Baker Hughes reported a decreased number of active oil and gas rigs in the United States on Friday. Oil and gas rigs decreased by 8 rigs, according to the report, with the number of active oil rigs falling by 5 to 858 this week, […]

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OPEC November Oil Production

December 16, 2017

OPEC November Oil Production The OPEC data below was taken from the December OPEC Monthly Oil Maret Report. All data is through November 2017 unless otherwise noted. OPEC crude oil production declined by 133,500 barrels per day in November. Algeria was up slightly in November after that huge decline in October. Angola was the biggest […]

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OPEC August Crude Oil Production

September 12, 2017

OPEC August Crude Oil Production All data below is based on the latest OPEC Monthly Oil Market Report. All data is through August 2017 and is in thousand barrels per day. The above chart does not include the 14th member of OPEC that was just added, Equatorial Guinea. I do not have historical data for Equatorial Guinea […]

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US Crude Production Stalls As Oil Rig Count Rolls Over

September 1, 2017

US Crude Production Stalls As Oil Rig Count Rolls Over Amid the chaos and turmoil caused by Harvey, today’s rig count data is likely to change things as much as a fart in a hurricane. US crude production in the Lower 48 actually fell last week, syncing with the stabilization in the lagged oil rig […]

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Another Example of a Seneca Cliff

October 16, 2016

Another Example of a Seneca Cliff The results of a Google Trend search for “Friendster”, an old social network. It is a nearly perfect “Seneca Shape.” Ruin is rapid, indeed! “Friendster” was a social network that, in many ways, pre-dated Facebook. Friendster collapsed rapidly, starting in around 2009, providing us with an impressive example of […]

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Oil Plunges to $32-Handle, Chinese Stocks Crash and are Halted, Whiff of Mayhem Breaks out

January 7, 2016

Oil Plunges to $32-Handle, Chinese Stocks Crash and are Halted, Whiff of Mayhem Breaks out Why Oil Keeps Falling off the Chart After having been through the greatest two-year loss on record, the price of oil plunged 9.6% on Wednesday and in evening trading. As I’m writing this, WTI hit $32.62 a barrel, a new low […]

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The Case For Peak Oil

November 21, 2015

The Case For Peak Oil All charts below were created with data from JODI, the EIA and OPEC MOMR. It is in thousand barrels per day and the last data point is September 2015. World crude oil production has taken off during the last two years due primarily to US shale oil production and higher […]

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OPEC Crude Little Change

October 13, 2015

OPEC Crude Little Change The OPEC Monthly Oil Market Report is just out with the crude only production numbers for the 12 OPEC countries. The data below is in thousand barrels per day and the last data point is September 2015. OPEC 12 crude only production was up 109,000 barrels per day in September but that was after […]

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Canadian Economics: Charts Galore

August 22, 2015

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US Shale Declining and OPEC Still Climbing

August 12, 2015

US Shale Declining and OPEC Still Climbing There is new data out today. The EIA published their International Petroleum Statisticsyesterday. The EIA also published their Drilling Productivity Report which gave their expected shale oil and gas production through September. Then this morning OPEC published their Monthly Oil Marketing Report with OPEC crude only production numbers through July. First the Drilling […]

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