Tag: U.S. Crude Oil Production

The Energy Information Administration reported that March crude oil production averaged 12.716 million barrels per day (mmbd), down 28,000 b/d from February. Reductions occurred in the Gulf of Mexico (41,000 b/d) North Dakota (19,000 b/d), and Colorado (13,000 b/d). Because of the oil price war and demand destruction, the collapse in oil prices likely undercut output in March, but the substantial drop in production started in April.

Texas production rose by 67,000 b/d to an all-time high of 5.422 mmbd.

The gains from last April were still 824,000 b/d. And this number only includes crude oil. Other supplies (liquids) that are part of the petroleum supply fell 490,000 b/d from a year ago. Continue reading "U.S. Crude Oil Production Peaked In November" →

According to the Energy Information Administration, U.S. crude inventories (excluding SPR) built by 14.9 million barrels last week to 1.415 billion, whereas SPR stock built by 2.1 million. They stand 129 mmb above the rising, rolling 5-year average and about 129 mmb higher than a year ago. Comparing total inventories to the pre-glut average (end-2014), stocks are 356 mmb above that average.

Crude Production

Production averaged 11.400 mmbd last week, down 100,000 b/d from the prior week, and 11.600 mmbd over the past 4 weeks, off 4.9 % v. a year ago. In the year-to-date, crude production averaged 12.580 mmbd, up 4.2 % v. last year, about 500,000 barrels per day higher than a year ago. Continue reading "U.S. Crude Inventories Continue To Climb" →

The Energy Information Administration reported that February crude oil production averaged 12.833 million barrels per day (mmbd), up,000 b/d from November. Reductions occurred in the Gulf of Mexico (87,000 b/d). Because of the oil price war and demand destruction, the collapse in oil prices likely undercut output in March, making February the peak in U.S. production.

Output rise in the Gulf of Mexico (41,000 b/d), New Mexico (37,000 b/d), North Dakota (27,000 b/d), and Oklahoma (27,000 b/d). Texas production fell by 5,000 b/d from its January all-time high.

The gains from last March have amounted 1.164 mmb/d. And this number only includes crude oil. Other supplies (liquids) that are part of the petroleum supply fell 390,000 b/d from a year ago. Continue reading "U.S. Crude Oil Production Peaked In February" →

The Energy Information Administration reported that December crude oil production averaged 12.779 million barrels per day (mmbd), down 84,000 b/d from November. Reductions occurred in the Gulf of Mexico (47,000 b/d), North Dakota (40,000 b/d), Colorado (26,000 b/d) and Oklahoma (16,000 b/d) and were likely weather-related. Texas production rose by 32,000 b/d and reached a new high of 5.350 mmbd.

Phillips 66 Partner’s Gray Oak pipeline is expected to ship an additional 900,000 b/d in the Permian. It began shipments and is expected to be in full service by the end of the second quarter of 2020.

The gains from last December have amounted 816,000 b/d. And this number only includes crude oil. Other supplies (liquids) that are part of the petroleum supply add to that. For December, that additional gain is about 700,000 b/d. Continue reading "U.S. Crude Up 1.5 Million Per Day In 2019" →

The Energy Information Administration reported that November crude oil production averaged 12.879 million barrels per day (mmbd), up 203,000 b/d from October. In addition, the October estimate was revised 21,000 b/d higher, and so the total gain was 224,000 b/d from the prior estimate.

The Gulf of Mexico rose by 91,000 b/d to 1.995 million barrels per day. Texas production reached a new high of 5.329 mmbd, up 65,000 b/d from October. And New Mexico’s production gained 59,000 b/d to 1.063 million barrels per day.

Plains All American Pipeline LP’s (PAA) Cactus ll pipeline was expected to ship at full capacity, 670,000 b/d, beginning in September. EPIC Midstream’s crude oil pipeline began shipping 400,000 b/d. It is designed to ship 440,000 b/d from the Permian and another 150,000 b/d from the Eagle Ford.

Phillips 66 Partner’s Gray Oak pipeline is expected to ship an additional 900,000 b/d. It began shipments and is expected to be in full service by the end of the first quarter of 2020.

The gains from last December have amounted 953,000 b/d. And this number only includes crude oil. Other supplies (liquids) that are part of the petroleum supply add to that. For November, that additional gain is about 500,000 b/d. Continue reading "Strong US Crude Production Growth In November" →