U.S. Oil Production Falling Fast
Posted: Mon Nov 02, 2015 10:40 pm
I have been telling all who will listen that the EIA's weekly production numbers have been overstating oil production. Weekly numbers are based on outdated formulas. The EIA does not have "real" numbers until the states supply them. BTW August numbers will change a couple more times.
The EIA’s Petroleum Supply Monthly is just out with production numbers, through August, for each state and offshore territories. The EIA’s Monthly Energy Review is also out. This publication has estimated U.S. production data through September but not for individual states.
PREVIOUSLY REPORTED PRODUCTION KEEPS GOING DOWN: The Petroleum Supply Monthly June 2015 production numbers were revised down considerably this month. And you can see they had a ONE MONTH drop of 169,000 bpd in September. I think there will likely be an even larger drop in October when more accurate numbers are available from the states. At any rate, the EIA is FINALLY ADMITTING that U.S. production has dropped significantly.
Texas was down for the fifth straight month. There is no chance that we are completing enough new wells to offset the 50,000+ shale wells that are on steep decline.
See: http://www.eia.gov/totalenergy/data/mon ... sec3_3.pdf
Note that in September U.S. imported more oil (9,141,000 BOPD) than we produced (9,129,000 BOPD). Kiss energy independence good by.
The EIA’s Petroleum Supply Monthly is just out with production numbers, through August, for each state and offshore territories. The EIA’s Monthly Energy Review is also out. This publication has estimated U.S. production data through September but not for individual states.
PREVIOUSLY REPORTED PRODUCTION KEEPS GOING DOWN: The Petroleum Supply Monthly June 2015 production numbers were revised down considerably this month. And you can see they had a ONE MONTH drop of 169,000 bpd in September. I think there will likely be an even larger drop in October when more accurate numbers are available from the states. At any rate, the EIA is FINALLY ADMITTING that U.S. production has dropped significantly.
Texas was down for the fifth straight month. There is no chance that we are completing enough new wells to offset the 50,000+ shale wells that are on steep decline.
See: http://www.eia.gov/totalenergy/data/mon ... sec3_3.pdf
Note that in September U.S. imported more oil (9,141,000 BOPD) than we produced (9,129,000 BOPD). Kiss energy independence good by.