Crude Oil Production - August Update
| rnk | Country | bl | --- | --- | --- | bl | Δ | Δ | Δ |
| --- | --- | x | --- | --- | --- | --- | prev | high | low |
| --- | --- | x | Mar | Apr | May | --- | Apr | May | Aug |
| --- | Country--- | x | 2008 | 2008 | 2008 | x | 2008 | 2005 | 2007 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1 | Saudi Arabia | x | 9200 | 9100 | 9400 | x | 300 | -200 | 800 |
| 2 | Russia | x | 9334 | 9296 | 9315 | x | 19 | 415 | -75 |
| 3 | US | x | 5139 | 5162 | 5166 | x | 4 | -414 | 253 |
| 4 | Iran | x | 4000 | 4000 | 4004 | x | 4 | -96 | 104 |
| 5 | China | x | 3769 | 3751 | 3811 | x | 60 | 200 | 65 |
| 6 | Mexico | x | 2847 | 2767 | 2798 | x | 31 | -643 | -45 |
| 7 | UAE | x | 2710 | 2710 | 2710 | x | 0 | 308 | 51 |
| 8 | Kuwait | x | 2600 | 2600 | 2609 | x | 9 | 109 | 109 |
| 9 | Canada | x | 2595 | 2546 | 2590 | x | 44 | 230 | -208 |
| 10 | Iraq | x | 2303 | 2303 | 2453 | x | 150 | 550 | 550 |
| 11 | Venezuela | x | 2440 | 2440 | 2440 | x | 0 | -100 | -4 |
| 12 | Norway | x | 2209 | 2111 | 2247 | x | 136 | -548 | 112 |
| 13 | Nigeria | x | 2330 | 2130 | 2060 | x | -70 | -630 | -320 |
| 14 | Angola | x | 2003 | 2009 | 2015 | x | 6 | 845 | 285 |
| 15 | Algeria | x | 1865 | 1895 | 1895 | x | 0 | 120 | 71 |
| 16 | Brazil | x | 1750 | 1797 | 1815 | x | 18 | 126 | 57 |
| 17 | Libya | x | 1740 | 1718 | 1700 | x | -18 | 70 | 0 |
| 18 | UK | x | 1453 | 1499 | 1486 | x | -13 | -257 | 258 |
| 19 | Kazakhstan | x | 1398 | 1368 | 1357 | x | -11 | -17 | 30 |
| 20 | Azerbaijan | x | 913 | 939 | 976 | x | 37 | 576 | 94 |
| 21 | Indonesia | x | 975 | 964 | 965 | x | 1 | -107 | 13 |
| 22 | Qatar | x | 920 | 934 | 938 | x | 4 | 103 | 73 |
| 23 | Oman | x | 755 | 748 | 721 | x | -27 | -46 | 19 |
| 24 | India | x | 705 | 702 | 701 | x | -1 | 19 | 8 |
| 25 | Egypt | x | 609 | 609 | 609 | x | 0 | -47 | -70 |
| 26 | Malaysia | x | 623 | 607 | 597 | x | -10 | 43 | 10 |
| 27 | Columbia | x | 562 | 567 | 579 | x | 12 | 48 | 51 |
| 28 | Argentina | x | 675 | 672 | 548 | x | -125 | -174 | -133 |
| 29 | Sudan | x | 520 | 520 | 520 | x | 0 | 170 | 34 |
| 30 | Australia | x | 436 | 476 | 501 | x | 25 | 1 | 22 |
| 31 | Ecuador | x | 508 | 510 | 499 | x | -11 | -27 | -9 |
| 32 | Syria | x | 390 | 389 | 388 | x | -1 | -48 | 8 |
| 33 | Eq. Guinea | x | 385 | 386 | 388 | x | 2 | -2 | 0 |
| 34 | Yemen | x | 313 | 297 | 306 | x | 9 | -99 | -11 |
| 35 | Denmark | x | 285 | 290 | 291 | x | 0 | -94 | -32 |
| 36 | Vietnam | x | 274 | 288 | 260 | x | -28 | -133 | -44 |
| 37 | Gabon | x | 228 | 250 | 250 | x | 0 | -21 | 5 |
| x | other | x | 2525 | 2549 | 2574 | x | 25 | -15 | 89 |
| x | blank | x | x | x | x | x | x | x | x |
| x | world | x | 74286 | 73901 | 74481 | x | 580 | 215 | 2220 |
| x | barrels | x | x | x | x | x | x | x | x |
| x | percentage | x | x | x | x | x | x | x | x |
May 2008 is current the record for Crude and Condensate production.
May 2005 is the previous high.
August 2007 is the month with the lowest production in the interim.
The final three columns show the changes in production between the previous month(April), those two months, and the most recent month (May).
13 comments:
When you going to update the home page NOE graph?
soon, but you can always get it on the last update post. I've got to start remember to do those together. thanks :)
>>>May 2008 is current the record for Crude and Condensate production.
Is this higher in history? I am asking because of "peak oil" front.
May 2008 is the highest. Previously it was February 2008 at about 74.7 mbpd, but that was revised down by 400,000 bpd in the last two months. 230,000 for Nigeria and about 170,000 bpd for some country or countries in the "other" category. The revision in the "other category applied to all months going back through at least 2007.
-MFP
Am I correct in thinking that you include natural gas liquids in your accounting for 'net exports'.
If so, can you explain why you don't just count C+C which is the stuff that peaks?
Thanks, Xeroid.
Xeroid -
I try where possible to use NGPLs because in some cases the numbers are actually available on a monthly basis, but more importantly, NGPLs are inseparable from the available consumption numbers. Consumption is accounted for as all-liquids.
Thanks for the explanation.
Xeroid.
Sorry, another question ... just to test my understanding of the poor official statistics ... so, by including the NGPL in production figures it overestimates the % of production, but not the amount, of C+C being exported?
Xeroid.
Demand and consumption numbers are always the all-liquids/85 mbpd number. I'm not aware of any comprehensive consumption figures for C+C only.
Percent of production is figured using 85 million barrels per day or whatever the exact figure is.
>>>May 2008 is the highest.
I believe this means the world oil production has not peak yet? (or technically peaked May 2008).
Is that correct statement?
This is an extremely hard question to answer without writing a book.
It depends on several things.
1) What your definition of peak oil is.
2) What time frame you allow for verification
3) What constitutes a decline
4) What you consider oil
..., etc.
I'm going to turn this into a thread ... bear with me.
But the short answer is that no, it hasn't, not yet.
In the meantime, I would recommend The Oil Drum (www.theoildrum.com)if you want to try to figure out the details of that debate.
-MFP
1) What your definition of peak oil is.
>>> conventional oil production decline. can be eighter because half of oil is produced already, or because of technological limit (this must be a plateau)
2) What time frame you allow for verification
>>> no idea ;) oil discoveries happen every day. unfortunately they are SMALL.
3) What constitutes a decline
>>> dont understand the question. decline is decline, isn't it? I believe saudies will pump more if they can, even the OPEC quota.
4) What you consider oil
>>> conventional only.
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