Tag: U.S. Crude Oil Production

The Energy Information Administration reported that February crude oil production fell by 1.197 million barrels per day, averaging 9.862 mmbd. This follows a dip of 42,000 b/d in January. The freeze in Texas accounted for the majority of the downturn. The February 914 figure compares to the EIA’s weekly estimates (interpolated) of 10.368 mmbd, a figure that was 506,000 higher than the actual 914 monthly estimate.

Drops in production were experienced in Texas (836,000), New Mexico (105,000), Oklahoma (98,000), North Dakota (82,000 b/d), and lesser amounts in many states.

Given the huge reduction last May, production dropped by 2.884 mmb/d over the past 12 months. This number only includes crude oil. Continue reading "Texas Freeze Impacts Crude Oil Production" →

The Energy Information Administration reported that January crude oil production fell by 21,000 barrels per day, averaging 11.080 mmbd. This follows a dip of 67,000 b/d in December.

Drops in crude production were experienced in North Dakota (45,000 b/d), Oklahoma (11,000), and in the US Gulf Coast (11,000). But output in Texas rose by 25,000 b/d. Continue reading "Crude Production Steady In January 2021" →

According to the Energy Information Administration, U.S. petroleum inventories (excluding SPR) rose by 4.8 million barrels last week to 1.292 billion, and SPR stocks were unchanged. Total stocks stand 2 mmb below the rising, rolling 5-year average and 31.4 mmb higher than a year ago. Comparing total inventories to the pre-glut average (end-2014), stocks are 233 mmb above that average.

Crude Production

Production averaged 11.0 mmbd last week, up 100,000 b/d from the prior week. It averaged 10.700 mmbd over the past 4 weeks, off 18.0 % v. a year ago. In the year-to-date, crude production averaged 10.736 mmbd, off 17.5 % v. last year, about 2.3 mmb/d lower Continue reading "U.S. Petroleum Inventory Rise 4.8 Million Barrels" →

The Energy Information Administration reported that December crude oil production fell by 58,000 barrels per day, averaging 11.063 mmbd. This follows a 682,000 b/d rise in November. The December 914 figure compares to the EIA’s weekly estimates (interpolated) of 11.100 mmbd, a figure that was 37,000 b/d higher.

Drops in production were experienced in New Mexico (42,000 b/d), North Dakota (38,000 b/d), and Texas (34,000 b/d). But output in the US Gulf Coast rose by 70,000 b/d.

Given the huge reduction in May, oil production dropped by 1.7 mmb/d over the past 12 months. This number only includes crude oil. Continue reading "U.S. Crude Oil Production Steady In December" →

The Energy Information Administration reported that November crude oil production rose by 692,000 barrels per day, averaging 11.124 mmbd, its highest since March. This follows a 438,000 b/d drop in October and a 2 million barrel per day collapse in May. The November 914 figure compares to the EIA’s weekly estimates (interpolated) of 10.910 mmbd, a figure that was 214,000 b/d lower.

The primary cause of the rebound in production was the return of output in the U.S. Gulf Coast. USG production rose by 645,000 b/d from November, and Oklahoma output rose by 29,000 b/d, while New Mexico rose by 19,000 b/d. Continue reading "U.S. Crude Production Rebounds In November" →