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From: Wharf Rat	3/16/2024 2:07:18 PM
	of 24206

US December Oil Production Flat – Peak Oil Barrel 03/08/2024 Ovi By Ovi All of the Crude plus Condensate (C + C) production data for the US state charts comes from the EIA's Petroleum Supply monthly PSM which provides updated information up to December 2023. U.S. December oil production decreased by 4 kb/d to 13,315 kb/d. The small decrease was a mix of increases and decreases that netted out to a negligible decrease. The largest decrease came from Texas, 20 kb/d, offset by a New Mexico increase of 23 kb/d. The dark blue graph, taken from the February 2023 STEO, is the forecast for U.S. oil production from January 2024 to December 2025. Output for December 2025 is expected to reach 13,698 kb/d. The projected January drop was due to severe storms in the central US. The red OLS line from June 2020 to December 2023 indicates a monthly production growth rate of 65 kb/d/mth or 780 kb/d/yr. Clearly the growth rate going forward into 2024, shown by the dark blue graph, is flat and significantly lower than seen in the previous June 2020 to November 2023 time period. In January 2025 production is expected to be 13,318 kb/d, 3 kb/d higher than in December 2023.

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