Monday, July 19, 2021

Global Petroleum Production -- July 19, 2021

Easy: to convert "quads" to boe

In the very, very small print at the EIA link below: 

More petroleum and natural gas was produced in the United States than in any other country during 2020 (a trend that began in 20214), despite year-on-year declines from the record-high production in 2019.

Timeline:

  • 2000: Bakken boom began in Montana
  • 2007: Bakken boom began in North Dakota
  • 2010: Bakken hitting its stride
  • 2014 - 2016: Saudi opens the tops to try to crush US shale
  • 2020: OPEC+ voluntarily cuts back
  • 2022: OPEC+ will increase quotas by 400K/month every month until back to pre-cut quotas.

Today:

From August 21, 2021:

 

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