USA And World Oil Production

|
Includes: BNO, DBO, DTO, DWT, NRGD, NRGO, NRGU, NRGZ, OIL, OILD, OILK, OILU, OILX, OLEM, OLO, SCO, SZO, UCO, USAI, USL, USO, USOD, USOI, USOU, UWT, WTID, WTIU, YGRN
by: Ron Patterson
Summary

The EIA no longer published World production data or Non-OPEC production data.

USA production was down 26,000 barrels per day in May.

New Mexico was up 33,000 barrels per day in May and now produces 900,000 barrels per day.

The USA data below was taken primarily from the EIA's Petroleum Supply Monthly while some were taken from the EIA's Monthly Energy Review.

I have some bad news to report. The EIA no longer published World production data or Non-OPEC production data. This data had previously been published in the Monthly Energy Review.

The Monthly Energy Review's data was one month behind the Petroleum Supply Monthly but now they jumped two months and are now one month ahead of the Petroleum Supply Monthly. They now publish the previous month's numbers, June in this case, but now publish only US data. The Petroleum Supply Monthly is unchanged.

EDIT: The Petroleum Supply Monthly does publish some, incomplete, world data… through April or one month behind their USA data. I will use that with an explanation and comments next month.

The closest I can come to World oil production, through June, is the combined production of OPEC, Russia, the USA, and Canada. This is 70% of total World Production.

Here is the other 30% of World oil production. However, this data is only through March. Unfortunately, I can never update this chart because the EIA no longer publishes the data.

This 30% of World oil production peaked in late 2015 and has declined an average of 450,000 barrels per day per year every year since.

Actually, in 2015 these countries averaged about 32% of World oil production but now averages about 29%.

I have no other source for World oil production. The IEA publishes quarterly projected data for the World and Non-OPEC. But this data is total liquids and only quarterly projections that bear little resemblance to actual C+C production.

USA production according to the EIA's Monthly Energy Review, through June 2019.

The Monthly Energy Review also produces total liquids data. This data is through June. The Monthly Energy Review is more of a guess and they eventually publish the same numbers as the Petroleum Supply Monthly.

All the below data is from the EIA's Petroleum Supply Monthly and is through May 2019.

USA production was down 26,000 barrels per day in May.

Texas oil production was up 16,000 barrels per day in May. Texas production is definitely slowing down.

North Dakota was up a mere 3,000 bpd in May. North Dakota has definitely plateaued.

Oklahoma oil production was down 12,000 bpd in May.

Colorado oil production was up 12,000 bpd in May.

New Mexico was up 33,000 barrels per day in May and now produces 900,000 barrels per day.

Alaska was down just 1,000 bpd in May but is down 22,000 bpd from May of 2018.

The Gulf of Mexico was down 78,000 bpd in May to 1,904 bpd.

Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.