{"id":18250,"date":"2016-02-25T14:33:48","date_gmt":"2016-02-25T19:33:48","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18250"},"modified":"2016-02-25T14:33:48","modified_gmt":"2016-02-25T19:33:48","slug":"oil-price-and-its-effect-on-production","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18250","title":{"rendered":"Oil Price And Its Effect On Production"},"content":{"rendered":"<header>\n<h3 class=\"entry-title\"><a href=\"http:\/\/peakoilbarrel.com\/oil-price-and-its-effect-on-production\/\" target=\"_blank\">Oil Price And Its Effect On Production<\/a><\/h3>\n<div class=\"entry-meta\">The\u00a0<a href=\"https:\/\/www.jodidata.org\/oil\/\">JODI Oil World Database<\/a>\u00a0came out a few days ago. The data is through December 2015. The JODI C+C production numbers differs somewhat from the EIA numbers. The JODI OPEC numbers are crude. Also there are a few very small producers that do not report to JODI so their numbers will be slightly less than the EIA. But otherwise they are pretty accurate.<\/div>\n<\/header>\n<div class=\"entry-content\">\n<p>Also, JODI, for some reason, does not count all of Canada\u2019s oil sands production. So for Canada I use Canada\u2019s National Energy Board numbers instead.<\/p>\n<p>The JODI C+C numbers, for Non-OPEC, will average about 2.4 million barrels per day less than the EIA.\u00a0This is largely due to some countries not reporting to JODI. But these countries only have small changes in their overall production so would have little effect on any of my charts or calculations.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-11776\" src=\"http:\/\/peakoilbarrel.com\/wp-content\/uploads\/2016\/02\/JODI-World-CC.jpg\" sizes=\"auto, (max-width: 648px) 100vw, 648px\" srcset=\"http:\/\/peakoilbarrel.com\/wp-content\/uploads\/2016\/02\/JODI-World-CC-300x184.jpg 300x, http:\/\/peakoilbarrel.com\/wp-content\/uploads\/2016\/02\/JODI-World-CC.jpg 648x\" alt=\"JODI World C+C\" width=\"648\" height=\"398\" \/><\/p>\n<p>According to JODI, world crude oil production peaked, so far, in July and has declined by 339,000 barrels per day.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-11778\" src=\"http:\/\/peakoilbarrel.com\/wp-content\/uploads\/2016\/02\/JODI-Non-OPEC.png\" sizes=\"auto, (max-width: 636px) 100vw, 636px\" srcset=\"http:\/\/peakoilbarrel.com\/wp-content\/uploads\/2016\/02\/JODI-Non-OPEC-300x185.png 300x, http:\/\/peakoilbarrel.com\/wp-content\/uploads\/2016\/02\/JODI-Non-OPEC.png 636x\" alt=\"JODI Non-OPEC\" width=\"636\" height=\"393\" \/><\/p>\n<p>The recent price collapse has had a greater effect on Non-OPEC production than OPEC production. Non-OPEC production peaked, so far, in December 2014 and in December 2015 stood at 650,000 bpd below that peak.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-11779\" src=\"http:\/\/peakoilbarrel.com\/wp-content\/uploads\/2016\/02\/JODI-Russia.png\" sizes=\"auto, (max-width: 687px) 100vw, 687px\" srcset=\"http:\/\/peakoilbarrel.com\/wp-content\/uploads\/2016\/02\/JODI-Russia-300x174.png 300x, http:\/\/peakoilbarrel.com\/wp-content\/uploads\/2016\/02\/JODI-Russia.png 687x\" alt=\"JODI Russia\" width=\"687\" height=\"399\" \/><\/p>\n<p>No discussion of Non-OPEC production would be complete without Russia, Non-OPEC\u2019s largest producer. I would never claim, just by looking at the chart, that Russia is peaking, or has peaked. But there have been reports coming out of Russia for over two years now that Russia is peaking. Some of those reports like this one\u00a0<a href=\"http:\/\/peakoilbarrel.com\/russias-take\/\">Global and Russian Energy Outlook to 2040<\/a>\u00a0have been reported on this blog. I think the charts lend strong credence to those reports.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil Price And Its Effect On Production The\u00a0JODI Oil World Database\u00a0came out a few days ago. The data is through December 2015. The JODI C+C production numbers differs somewhat from the EIA numbers. The JODI OPEC numbers are crude. Also there are a few very small producers that do not report to JODI so their [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[4248,251,9233,1775,595,600,6245,6074],"class_list":["post-18250","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-canadian-oil-sands","tag-eia","tag-jodi","tag-oil-price-collapse","tag-oil-production","tag-opec","tag-peak-oil-barrel","tag-ron-patterson"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18250"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18250\/revisions"}],"predecessor-version":[{"id":18251,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18250\/revisions\/18251"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}