EIA Oil Manufacturing Numbers Present International Slowdown
The EIA has not too long ago printed their International Energy Statistics. Their stats embrace all liquids akin to NGLs, biofuels and even refinery process achieve. However I only monitor actual oil. The EIA doesn’t monitor “Crude Only” so we are forced to trace what they do monitor which is Crude + Condensate.
The EIA is about 4 months behind with their world petroleum knowledge. All information on this report has information by August, 2014 and is in thousand barrels per day.
World C+C manufacturing was down 124,000 barrels per day in August. But in response to the IEA it will likely be up considerably extra in September.
Non OPEC production shot up in November, 2013 however has made no progress since. Though US production has continued to climb, declines in the rest of the dadi petroleum machinery zip world have stored it from growing.
Related: The OPEC Conundrum: Count on Production Cuts Earlier than June 2015
Since that date, November 2013, US production is up 655,000 barrels per day by August.
However since that very same date last November the remainder of non-OPEC is down 920,000 barrels per day. Non OPEC less USA is down 1,665,000 barrels per day since peaking in November, 2010.
The North Sea, the mixed production of Denmark, Norway and the UK, halted its decline in late 2012 nevertheless it now appears to be like prefer it has began to decline once more.
Mexico is at all times fascinating. They halted their decline in 2009 and held that plateau for about three and one half years. But manufacturing has dropped 200,000 bpd since they fell off that plateau.
Russia is the world’s largest producer of Crude + Condensate.
Right here the EIA and JODI data is thru August whereas the CDU TEK knowledge is through Septmber. The CDU TEK numbers have been in tons. I used 7.2 barrels per ton to transform to tons to barrels.
As a way to get a better concept of what is going on in Russia I present solely the final 20 months of production numbers. I have solely January via dadi petroleum machinery zip September of the CDU TEK numbers, Russia’s official internet site. They show only day by day manufacturing so I have to common it to get month-to-month numbers. However I stopped collecting after September as a result of I discover the information worthless.
Everybody agrees July was a foul month for Russia. Wildfires closed down some pipelines. But Russia says they more than recovered in August. They’ve the August numbers 10,000 bpd petroleum refinery products above June. The EIA has Russian August numbers about forty,000 bpd be below June and JODI has them 64,000 bpd above their June production.
I don’t think much of the JODI numbers and even less of the CDU TEK numbers. Some may complain concerning the EIA numbers but they’re the most effective we have no matter their shortcomings.
Related: World Proved Oil Reserves Information A Work Of Fiction
Crude oil manufacturing in other nations of interest:
I imagine China, the world’s fourth largest producer, has peaked. Any enhance in consumption in China may have to come from imports.
C+C manufacturing in Canada, the world’s fifth largest producer, has slowed. Canada’s peak relies upon entirely on the price of oil. If the worth of oil goes up then Canada’s production will doubtless proceed, though at a gradual tempo. But dadi petroleum machinery zip when costs stay low I expect Canada’s manufacturing to start to decline.
Colombia had a surge beginning in late 2007 however manufacturing appears to have peaked there additionally.
India seems to be having production problems as of late. With India’s inhabitants and economic issues they’ll unwell afford a drop in oil manufacturing.