Tag: U.S. Crude Oil Production

The Energy Information Administration reported that June crude oil production dipped by 5,000 barrels per day, averaging 11.307 mmbd. This follows a modest decline in April. In addition, the June 914 figure compares to the EIA’s weekly estimates (interpolated) of 11.141 mmbd, a figure that was 164,000 lower than the actual 914 monthly estimate.

A largest gain was in New Mexico (43,000 b/d), followed by The Gulf of Mexico (18,000 b/d). On the other hand, production in Texas actually decline by 22,000 b/d.

Given the huge reduction in May 2020, production recovered by 865,000 b/d over the past 12 months. This number only includes crude oil. Continue reading "U.S. Crude Oil Production Leveling In June 2021" →

The Energy Information Administration reported that May crude oil production rose by 80,000 barrels per day, averaging 11.231 mmbd. This follows a modest decline in April. The May 914 figure compares to the EIA’s weekly estimates (interpolated) of 10.955 mmbd, a figure that was 276,000 lower than the actual 914 monthly estimate.

The largest gain was in New Mexico (49,000 b/d), followed by The Gulf of Mexico (29,000 b/d) and North Dakota (26,000 b/d). On the other hand, production in Texas actually declined by 22,000 b/d.

Given the huge reduction in May 2020, production recovered by 1.2 mmb/d over the past 12 months. This number only includes crude oil.

The EIA-914 Petroleum Supply Monthly (PSM) average figure was nearly identical to the weekly data average reported by EIA in the Weekly Petroleum Supply Report (WPSR). Continue reading "U.S. Crude Production Rises In May" →

The Energy Information Administration reported that March crude oil production gained 1.401 million barrels per day, averaging 11.184 mmbd. This follows a drop of 1.273 mmb/d in February due to the freeze in Texas. The March 914 figure compares to the EIA’s weekly estimates (interpolated) of 10.968 mmbd, a figure that was 216,000 lower than the actual 914 monthly estimate.

Gains in production were experienced in Texas (990,000), New Mexico (172,000), the Gulf of Mexico (107,000), Oklahoma (87,000), and North Dakota (14,000 b/d). Continue reading "U.S. Crude Production Rebounds In March 2021" →

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" →