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Politics : Rat's Nest - Chronicles of Collapse

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From: Wharf Rat	6/9/2024 6:25:54 PM
	of 24206

Small increase for US March Oil Production – Peak Oil Barrel 06/05/2024 Ovi By Ovi All of the Crude plus Condensate (C + C) production data, oil, for the US state charts comes from the EIA's Petroleum Supply monthly PSM which provides updated information up to March 2023. U.S. March oil production rose by 77 kb/d to 13,182 kb/d. The largest increases came from Texas, 36 kb/d and New Mexico, 32 kb/d. However relative to the EIA’s February production report, which was revised down from 13,154 kb/d to 13,105 kb/d, March production is up by 18 kb/d. US production has been flat since September 2023. The dark blue graph, taken from the May 2023 STEO, is the forecast for U.S. oil production from April 2024 to December 2025. Output for December 2025 is expected to reach 13,905 kb/d and is an increase of 5 kb/d from the previous STEO report. From March 2024 to December 2025 production is expected to grow by 779 kb/d. This increase is a very high growth and is not consistent with many articles predicting a near term peak in US oil production. Will the current price drop in WTI affect the next EIA’s STEO report? 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. Production going forward is increasing at a slower rate. The light blue graph is the STEO’s projection for output to December 2025 for the Onshore L48. From March 2024 to December 2025, production is expected to increase by 625 kb/d to 11,549 kb/d which is 65 kb/d higher than reported in the previous STEO. more...

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