• 5 days Retail On Pace For Most Bankruptcies And Store Closures Ever In One Year: BDO
  • 10 minutes America Could Go Fully Electric Right Now
  • 4 hours Majors Oil COs diversify into Renewables ? What synergies forget have with Solar Panels and Wind Tirbines ? None !
  • 1 day Something wicked this way comes
  • 13 hours America's Frontline Doctors - Safely Start Living Again!
  • 7 mins France Sees 10.6% EV Market Share In September — 4× Growth Year On Year
  • 14 hours Conoco Pledges ‘Net-Zero’ Emissions in Break With U.S. Rivals
  • 22 hours Permian in for Prosperous and Bright Future
  • 1 day A sneak peak into the US election
  • 3 hours covid. stop the carriers and thus stop the virus.
  • 1 day Tesla Model 3 Is September's Top Selling Car of All Vehicles in Switzerland
  • 2 days California’s Electric Vehicle Dream Has A Major Problem: No
  • 2 days "COVID Kills Another Oil Rally" by Tom Kool 10/16/2020
  • 17 mins GPOR - Gulfport Oil - Why?
  • 2 days Vote Biden for Higher Oil Prices
  • 2 days Ethanol present in gasoline
  • 3 days Is the coal industry on the way out?
Natural Gas Is Booming In Africa

Natural Gas Is Booming In Africa

As the world turns its…

Democrats Want Permanent Ban On Offshore Oil Leasing

Democrats Want Permanent Ban On Offshore Oil Leasing

Democrat members of the House…

North American Imports Of OPEC Crude Oil Drop In 2018

The amount of crude oil making its way from OPEC member countries to the North America dropped in 2018 to an average of 2.813 million barrels per day—a drop of 406,000 barrels per day, or a 12.6-percent decrease from 2017, according to cartel’s 2019 Annual Statistical Bulletin published on Monday.

OPEC’s crude oil exports to Europe also declined, from 4.654 million barrels per day to 4.577 million barrels per day.

OPEC’s overall exports, however, were up overall, although modestly. OPEC crude oil exports for 2018 reached an average of 24.67 million barrels per day—an increase of just 14,000 barrels per day, or a 0.1-percent increase. The largest chunk of OPEC’s crude oil exports—64.3 percent—makes its way to the Asia and Pacific region.

OPEC’s proven crude oil reserves fell by 0.2% to 1.189 trillion barrels at the end of 2018, according to OPEC’s latest figures. Meanwhile, the United States’ crude oil reserves rose from 39 billion barrels to 47 billion barrels. Latin America, Eastern Europe and Eurasia, Africa, and the Middle East all saw small dips in their crude oil reserves.

Saudi Arabia’s crude oil reserves were pegged at 267 billion barrels, a slight increase from the 266 billion barrels estimated for 2017.

Overall, the world’s total crude oil production in 2018 “increased sharply” according to the cartel, estimating it at 75.78 million barrels per day—a 1.213 million barrel per day increase from 2017---the highest annual growth since 2015. This, despite the OPEC agreement to curb production for 2018. The top producers club includes the United States at an average of 10.53 million barrels per day, Russia at an average of 10.53 million barrels per day, and Saudi Arabia at an average of 10.32 million barrels per day.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Tripp Mills on June 04 2019 said:
    I'll timestamp the above post so all can see -approximately 12:45-12:50am EST on now what is June 4th (they are headed to what they think is their big short day so oil investors there is likely one big problem!). Funds and anyone with a brain - do not fall into their short trap!
  • Tripp Mills on June 03 2019 said:
    As someone familiar with the oil markets - A.) how awful have we been to OPEC (Saudi is what I mean) when they are trying to at least help balance world oil markets B.)Secondly, if you know what I know - which means I won't comment on why this is.

    Secondly: ENERGY INVESTORS CALL YOUR BROKERAGE FIRMS AND MAKE SURE YOUR SHARES ARE NOT BEING SHORTED ILLEGALLY (likely) and that YOUR CASH DIVIDENDS BE MADE AVAILABLE FOR CASH WITHDRAWL (mine just get stolen time and time again - 3 so far this month). DEMAND IF YOU CAN THAT THE FIRMS ARE NOT SHORTING OIL WHEN THEY ARE ENTRUSTED WITH YOUR INVESTMENTS! Lets save and help make our energy industry profitable!

Leave a comment

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