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From: Wharf Rat	1/24/2024 8:23:20 PM
	of 24206

September World Oil Production Rebounds – Peak Oil Barrel 01/19/2024 Ovi By Ovi Below are a number of Crude plus Condensate (C + C) production charts, usually shortened to “oil”, for oil producing countries. The charts are created from data provided by the EIA’s International Energy Statistics and are updated to September 2023. This is the latest and most detailed/complete World Oil production information available. Information from other sources such as OPEC, the STEO and country specific sites such as Russia, Brazil, Norway and China is used to provide a short term outlook for future output and direction for a few of these countries and the World. World Oil Production and ProjectionWorld oil production increased by 927 kb/d in September, green graph. The largest increase came from Saudi Arabia 500 kb/d while the US added 224 kb/d and Brazil 210 kb/d. This chart also projects World C + C production out to December 2025. It uses the January 2024 STEO report along with the International Energy Statistics to make the projection. (Red markers). The red graph forecasts that World crude production in December 2025 will be 83,426 kb/d and is 1,154 kb/d lower than the November 2018 peak. Note the large production decrease starting in January 2024. It could be the reflecting the latest OPEC + cut announced in November 2023. From October 2023 to December 2025, production is estimated to increase by 1,613 kb/d or an average of 62 kb/d/mth. Keep in mind that OPEC + has close to 3,000 kb/d of cuts in reserve if required. World without the US oil output in September increased by 688 kb/d to 68,286 kb/d. October is expected to add 378 kb/d. Note that December 2025 output of 69,832 kb/d is lower than February 2023.

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