Tag: U.S. Crude Oil Inventories

The Energy Information Administration reported that January crude oil production averaged 11.871 million barrels per day (mmbd), down 90,000 b/d from December. Despite the drop in January, crude production still rose by a spectacular 1.407 mmbd from June through January, a period when capacity takeaway constraints had been expected to slow down the growth in Texas.

The year-over-year gains have been especially impressive with the January figure being 1.876 mmbd. And this number only includes crude oil. Other supplies (liquids) that are part of the petroleum supply add to that. For January, that additional gain is about 6,950 b/d. Continue reading "U.S. Crude Production In January Displays A Seasonal Lull" →

The Energy Information Administration reported that November crude oil production averaged 11.900 million barrels per day (mmbd), up 345,000 b/d from October. This estimate capped a spectacular 6-month gain of 1.436 mmbd from June through November, a period when capacity takeaway constraints had been expected to slow down the growth in Texas.

The year-over-year gains have been especially impressive with the November figure being 1.801 mmbd. 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 "U.S. Crude Production Outperforms In November" →

The Energy Information Administration reported that October crude production averaged 11.560 million barrels per day (mmbd), up 79,000 b/d from September. This was a slowdown in growth from the spectacular numbers recorded in July and August.

However, the year-over-year gain was still a very impressive 1.850 mmbd. And this number only includes crude oil. Other supplies (liquids) that are part of the petroleum supply add to that. For October, that additional gains is about 600,000 b/d.

The gain was led by a 33,000 b/d increase in New Mexico, a 31,000 b/d rise in North Dakota and a gain of 22,000 b/d in Colorado. Weather factors affected the overall gain, as production fell by another 29,000 b/d in the U.S. Gulf. Continue reading "U.S. Crude Production Gains Slow In October" →

The Energy Information Administration reported that August crude oil production averaged 11.475 million barrels per day (mmbd), up 129,000 b/d from August. The gain was led by a 106,000 b/d increase in Texas, a 64,000 b/d rise in North Dakota and a gain of 24,000 b/d in Mexico. Seasonal factors affected the overall gain, as production fell by 147,000 b/d in the U.S. Gulf and rebounded by 43,000 b/d in Alaska.

The EIA-914 Petroleum Supply Monthly (PSM) figure was 438,000 b/d higher than the weekly data reported by EIA in the Weekly Petroleum Supply Report (WPSR), averaged over the month, of 11.037 mmbd. Continue reading "U.S. Crude Production Shows No Signs Of Bottleneck" →