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CHART OF THE WEEK: The Surprising Drop In U.S. Crude Oil Production

CHART OF THE WEEK: The Surprising Drop In U.S. Crude Oil Production U.S. crude oil production experienced a surprising drop last week, even though domestic demand for oil and petroleum products increased.  This came as a surprise to some energy analysts.  Furthermore, the IEA, International Energy Agency came out with a forecast for global oil demand […]

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Decline In U.S. Oil Rigs Sends WTI Higher

Decline In U.S. Oil Rigs Sends WTI Higher The the number of active oil and gas rigs fell in the United States this week according to Baker Hughes. The total number of active oil and gas drilling rigs fell by 3 according to the report with the number of active oil rigs gaining 2 to […]

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US Crude plus Condensate and Tight Oil, Jan 2018 Update

US Crude plus Condensate and Tight Oil, Jan 2018 Update From Dec 2016 to Dec 2017 US Tight oil output has increased by 975 kb/d based on US tight oil output data from the EIA. For the entire US we only have EIA monthly output estimates through Oct 2017. Over the Dec 2016 to Oct […]

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Truth takes a hit in the battle over U.S. oil export ban

Truth takes a hit in the battle over U.S. oil export ban They say that the first casualty of war is truth. And, on both sides of the fight over lifting the ban on exports of U.S. crude oil, the truth has already fallen into a coma. The ban was instituted in 1975 in order […]

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The EIA Changes Data Collection Methods

The EIA Changes Data Collection Methods EIA begins monthly survey-based reporting of U.S. crude oil production With the release of today’s  Petroleum Supply Monthly, EIA is incorporating the first survey-based reporting of monthly U.S. crude oil production statistics. Today’s Petroleum Supply Monthly includes estimates for June 2015 crude oil production using new survey data for 13 states and […]

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The EIA Is Bizarrely Optimistic About Future US Oil Production

The EIA Is Bizarrely Optimistic About Future US Oil Production The EIA came out with its final update of Annual Energy Outlook 2015. It seems that the EIA is extremely optimistic concerning future US crude oil production. Here is a comparison with AEO 2014. The EIA still expects US crude production to peak in 2019 but […]

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