Oil production in the United States is growing, but it is doing so very slowly
Oil production in the United States began to grow slowly. In the week ended November 27, production increased by 100,000 barrels per day to 11.1 million barrels per day, according to a review by the Energy Information Administration (EIA) of the country's Energy Ministry
In January, oil production in the country averaged 12.755 million barrels per day. In February – 12.746 million, in March – 12.737 million, in April – 12.01 million barrels per day. In May – 10.019 million, in June – 10.442 million, in July – 10.98 million barrels per day. In August – 10.574 million, and in September – 11.25 million barrels per day.
The exact data on production EIA reports in a monthly report with a difference of two months. So, according to preliminary data, oil production in October amounted to 10.79 million barrels per day. And in November – 11.25 million barrels per day. The revised figure for October will be announced at the end of December.
Meanwhile, the Office believes that oil production in the largest oil and gas producing regions of the United States will decline again in December. Production will drop 140,000 bpd to 7.513 million bpd compared to November, according to a new monthly EIA forecast.
The largest decline in production is expected in the Permian Basin, by 37,000 to 4.299 million bpd. At Bakken – by 33 thousand to 1.133 million barrels per day. At Eagle Ford – by 27 thousand to 983 thousand barrels per day. At the Niobrara fields, production is expected to decline by 22 thousand to 555 thousand barrels per day. And on Anadarko – by 20 thousand to 381 thousand barrels per day.
The smallest decline is predicted at the Appalachia field – by one thousand barrels to 128 thousand barrels per day. The EIA also expects production at Haynesville to remain flat at 34,000 barrels per day.
The US will not be able to restore its production soon
In general, according to the head of the US Department of Energy Dan Bruyette, the US will not soon return to the volume of daily oil production, which was fixed at the beginning of the year. He expressed this opinion at the Indian Energy Forum, organized by IHS CERAWEEK.
“We simply have no demand for production yet … I do not expect that we will return to 13 million barrels per day in the near future,” the minister explained. Currently, production is about 11 million barrels per day and, perhaps, next year this figure will only grow slightly, says Bruyette. : ///
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