The Status of U.S. Oil Production
If you haven’t been paying attention, U.S. crude oil + condensate production reached a peak in 2019 at 12.29 million barrels/day (mb/d) on an annual basis.
US oil production
US Oil Exploration Drops by 95 Percent
What is less known, however, is that spending on oil exploration is fast dropping in the United States. Exploratory drilling has been decreasing year after year and now stands at only five percent of its 1981 peak.
New U.S. Record-Level Oil Production! Peak Oil Theory Disproven! Not.
Sometime in the next few years, global oil output will indeed start to fall and the fact will be undeniable—even though the cause will likely be attributed to a financial or economic crash. But even if tenacious peak oil supply theorists feel vindicated, confirmation of their warnings will carry no sweetness.
United States as energy exporter: Is it “fake news”?
All the hype about America being a major energy exporter isn’t hype, it’s just plain wrong. And, the idea that it will become one in the long run isn’t supported by the available facts.
U.S. Storage Filling Up with Unaccounted-For Oil
In a joint post Art Berman and Matt Mushalik analyzed US crude oil inventories as reported by the EIA.
US shale oil peak in 2015
The latest EIA drilling productivity report (11th April 2016) shows US shale oil production continuing to decline in Bakken, Eagle Ford and Niobrara while the Permian has flattened out.
The Myth of US Self-sufficiency in Crude Oil
Contrary to general belief, and mis-information by the media the US is far away from being “energy independent” in terms of crude oil imports.
IEA: US$ 40 oil means 3 mp/d less oil by 2020
You want $40 oil? Yes, please. But according to the World Energy Outlook 2015 of the International Energy Agency, recently released in London, that would mean 3 mb/d less US tight (shale) oil by 2020.
Whatever Happened to Peak Oil?
Whatever happened to “peak oil” – the assertion that the rate at which oil is extracted from the Earth is nearing a maximum or peak level?
Tight Oil Reality Check
America’s energy future is largely determined by the assumptions and expectations we have today.
Truth takes a hit in the battle over U.S. oil export ban
They say that the first casualty of war is truth. And, on both sides of the fight over lifting the ban on exports of U.S. crude oil, the truth has already fallen into a coma. The ban was instituted in 1975 in order to make America less subject to swings in international oil supply after suffering the price shock associated with the Arab oil embargo in 1973.
U.S. tight oil production decline
U.S. oil production has begun to drop in response to low oil prices, but not as dramatically as many had anticipated.