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September 27, 2012

World and US Oil Projections and recent statistics

Alberta Oil Magazine has projections of oil production for the US and Canada out to 2016.



TheOilDrum has a typically overly pessimistic view of what will happen with world, US and Canadian oil production. The figures that they are using are already outdated for the US which has had an increase of 1 million barrels per day in crude oil since 2011.



US Crude oil production just reached 6.509 million barrels per day. There was a dip for several weeks because of production shutdowns because of weather in the gulf of mexico.

All US oil liquid production is at 10.8 million barrels per day. US Imports were down to 7.5 million barrels per day

In July, North Dakota oil production hit 674,000 barrels per day. It will be interesting to see what the September and October production is when the EIA reports US oil production is 200,000 barrels per day higher. Likely the increase is a mix of Texas and North Dakota and some recovery in Alaska.




Iraq Oil Production projections through 2017

Year  Exports          Total Production
2012  2.6 million bpd  3.2 million bpd
2013  2.9 million bpd
2014  3.5 million bpd
2015  3.75 million bpd
2016  4.5 million bpd (NBF interpolation)
2017  6.0 million bpd  

The EIA indicates there was a new peak in world crude oil in April, 2012 at 75.87 million barrels per day





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