• 1 hour Midwestern Refiners Seek Canadian Oil To Expand Output
  • 6 hours UK On Track To Approve Construction of “Mini” Nuclear Reactors
  • 10 hours LNG Glut To Continue Into 2020s, IEA Says
  • 12 hours Oil Nears $52 With Record OPEC Deal Compliance
  • 15 hours Saudi Aramco CEO Affirms IPO On Track For H2 2018
  • 17 hours Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 19 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 4 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 4 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 4 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 4 days New Video Game Targets Oil Infrastructure
  • 4 days Shell Restarts Bonny Light Exports
  • 4 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 4 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 5 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 5 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 5 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 5 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 5 days Rosneft Signs $400M Deal With Kurdistan
  • 5 days Kinder Morgan Warns About Trans Mountain Delays
  • 5 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 6 days Conflicting News Spurs Doubt On Aramco IPO
  • 6 days Exxon Starts Production At New Refinery In Texas
  • 6 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 7 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 7 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 7 days China To Take 5% Of Rosneft’s Output In New Deal
  • 7 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 7 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 7 days VW Fails To Secure Critical Commodity For EVs
  • 7 days Enbridge Pipeline Expansion Finally Approved
  • 7 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
Alt Text

Canada’s Pipeline Industry Takes Another Hit

Canada’s struggling oil industry has…

Ron Patterson

Ron Patterson

Ron Patterson is a retired computer engineer. He worked in Saudi Arabia for five years, two years at the Ghazlan Power Plant near Ras Tanura…

More Info

US Oil Production Finally Starting to Decline

US Oil Production Finally Starting to Decline

 

(Click to enlarge)

The Monthly Energy Review and the Petroleum Supply Monthly have US production peaking, so far, in March and April. The Petroleum Supply Weekly has US production peaking in June. In the chart above I have averaged the Petroleum Supply Weekly into monthly data. All data is in thousand barrels per day. Related: EIA Capitulates Under Cover Of Darkness

(Click to enlarge)

Here we have the weekly data from the Petroleum Supply Weekly. The last data point is July 24th. The huge jumps you see are basically just revisions. The huge jump you see for the week of May 22nd, was not really a jump. The EIA explained that their prior numbers were too low and the sudden increase that week was merely an adjustment. Related: Don't Expect An Oil Price Rebound This Side Of 2017

(Click to enlarge)

The EIA is finally getting its act together as to Texas C+C production. They have Texas peaking in March at 3,770,000 bpd and declining 106,000 bpd since then. Related: US Shale: How Smoke And Mirrors Could Cost Investors Millions

The EIA had the Gulf of Mexico spiking up in April but falling right back in May. The BSEE data, like Texas, is always delayed but only by about four months.

The EIA admits that they show different data but tries to explain it here:

EIA reports show different aspects of U.S. oil production statistics and trends

By Ron Patterson

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment
  • K Yamaguchi on August 04 2015 said:
    Mr. Patterson,

    Do you think the 150,000 reduction in weekly production reported July 24 was a real reduction from prior week, or just another "correction" based on the drop in production for May vs. April?

    Trying to figure out if those reduction should be considered additive, or essentially the same adjustments.
  • gus on August 05 2015 said:
    I agree with the author. Today's number (9.46 million per day) is further indication that U.S. production peaked earlier this year. Even though the number is higher than last week's, it proves that last week's 9.41 number was not a fluke. We are definitely down from the 9.6 peak in the weekly numbers. These numbers don't jump around much. I would expect another 9.4 next week, or a 9.3. Meanwhile, I expect many commentators on the short side to keep saying "oil production still hasn't fallen" or even "oil production is rising", even though it likely peaked months ago and we are now seeing further proof in the gov't stats. The WTI price will keep jumping around in the short term because the dollars jumps around, and because the drop in production is somehow not visible enough for some people. If you want to sell your energy stocks at the worst possible time, now's the time.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News