State production estimates reported by eia are normally different from data reported by state agencies. You see, the monthly and weekly eia oil production data are showing growth at two very different speeds. Domestic and international energy data collection for energy. Analysts are still using eia weekly production esti. The saxo bank group entities each provide executiononly service and access to permitting a person to view andor use content available on or via the website is not. Totals may not equal sum of components due to independent rounding. A report published every wednesday by the energy information administration. Working gas in storage was 2,200 bcf as of friday, february 21, 2020, according to eia estimates. Nov 01, 2017 us august monthly oil production was 9. Commodities crude oil gasoline heating oil for chinese visitors. Weekly crude oil production estimates are rounded to the nearest 100,000 bd at the u. Oil futures extended earlier gains on wednesday after the u. Shortterm energy outlook energy information administration. On february 22, 2010, this website will be the official web location for the data files associated.
Although the eia weekly report showed a largerthanexpected decline in crude oil inventories, the price of the commodity declined sharply after news that u. The countrys oil output has surged, boosted by technology to unlock production from shale formations. Apr 30, 2020 the eia drilling productivity report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil and natural gas wells to provide estimated changes in oil and natural gas production for seven key regions. What are the eia oil production numbers telling us. Summary of weekly petroleum data for the week ending may 8. The eia has recently published their international energy statistics. Weekly crude oil production estimates are rounded to the nearest. Energy information administration eia official energy statistics from the u. Stock build adds to bearish sentiment us crude oil inventories increased by 6. For example, production estimates for texas reported on table 26 are different from production reported by the railroad commission of texas. Mexican oil, gas production to see profound increase.
Chinas production dropped by 83 kbd to 3,835 kbd in july. The difference in august versus the weekly was 150k bd. Weekly oil storage report imaginary barrels seeking alpha. The forecasted growth is driven by 14 new fields brought online in 2018 and 9 new fields expected to come online in 2019. Apr 30, 2020 crude oil production quantities are estimated by state and summed to the padd and the u. This represents a net decrease of 143 bcf from the previous week. The eia has significantly revised its oil production for egypt. The weekly figures from the eia, and the general narrative in markets, suggest that u.
This weeks domestic crude oil production estimate incorporates a re benchmarking that affected. Hear from active traders about their experience adding cme group futures and options on futures to their portfolio. The eia has apparently stopped publishing its international energy statistics. This is once again overestimating where actual productions are at as we. Weekly crude oil production estimates are rounded to the nearest 100,000 bd at. Jul 15, 2019 eia forecasts gom production to average 1. Energy information administration eia collects, analyzes, and disseminates independent and impartial energy information to promote sound policymak. At the time of publication, many oil production platforms in the gulf of mexico had returned to operation, and eia forecasts overall u.
The latest news, analysis and insights on us eia weekly petroleum status report by saxo banks best analysts and traders. First, it is important to remember that weekly eia production numbers are just estimates except for. Crude oil production energy information administration. Domestic crude oil field production estimates based on form eia 914, monthly crude oil, lease condensate, and natural gas production report, and data from state conservation agencies, the u. This website is dedicated to the data release of the weekly natural gas storage report wngsr and the data files associated with the 10. The median forecast is calculated from models that are predicting a peak before 2020 bakhtiari, smith, staniford, loglets, shock model, gbm, aspo70,58,45, robelius lowhigh, hsm. Crude oil thousand barrels per day 2010 2012 2014 2016 2018 0 2,500 5,000 7,500 10,000 12,500 15,000 source. These six regions accounted for almost 90 percent of domestic oil production growth and almost all domestic natural gas production growth between 2011 and 2012.
Energy information administration s eia form eia914, monthly oil and natural gas production report, collects information on oil and natural gas production by operators in the united states. Us crude oil inventories approaching recordhigh levels. Jul 14, 2014 one of the most watched reports published by the eia is called this week in petroleum. Thatand some wildly different eia datamake this question very timely right now. The weekly numbers intimate growth is barely slowing at all, while the twomonth delayed monthly numbers eia 914 report show production slowing a lot. Nov 01, 2017 eia said that the weekly us oil production figure rose to 9. It is expected to maintain this level of production into 2020 due to increased spending by chinas major oil companies, according to the iea.
Crude oil, motor gasoline, heating oil, and propane. Distillate fuel production increased last week, averaging 5. Residential and wholesale prices of heating oil and propane by u. The eia crude oil stockpiles report is a weekly measure of the change in the number of barrels in stock of crude oil and its derivates, and its. Field production of crude oil thousand barrels per day yearmonth week 1 week 2 week 3 week 4 week 5. Over the past four weeks, crude oil imports averaged about 5. Pdf on jan 1, 2005, robert l hirsch and others published peaking of. Summary of weekly petroleum data for the week ending september 16, 2016. Crude oil production quantities are estimated by state and summed to the padd and the u. The effects of shale gas production on natural gas prices bureau of.
May 04, 2020 crude oil production in the gulf of mexico fell to a monthly average of 1. Natural gas traders brush off bearish eia data, send futures. The eia should be tailored to suit the potential impacts of. Instead, the rapid pace of falling production grabbed traders attention, while some shortcovering also likely came into play. International petroleum and other liquids production, consumption, and inventories. If we find a large difference between the two series, we may re. If we find a large difference between the two series, we. Understand how different reports can help your understanding of supply and demand in the oil markets and how this information effect the economy. Stocks were 637 bcf higher than last year at this time and 179 bcf above the fiveyear average of 2,021 bcf. The crude oil draw was largely driven by stronger exports, which were up 540mbblsd, and a 100mbblsd decline in production. We discuss the eia oil and petroleum products report in this commodities market video, focusing on oil imports and gasoline demand along with us oil production numbers.
The data collected are used to estimate production of oil and natural gas production in the united states. Aug 25, 2014 so attractive, in fact, that while the eias international energy outlook last year predicted mexican oil and gas production would decline from 3 million barrels per day in 2010 to 1. Eastern standard time est on wednesdays in csv and xls formats. Eia nonopec oil production updated to july 2019 peak oil. Us crude oil inventories approaching recordhigh levels world. Monthly oil and natural gas production report form eia914. End date value end date value end date value end date value end date value. Refineries operated at of their operable capacity last week. For the week ending on may 22, the eia reported a monster increase in production of 3 percent from the week before. The monthly eia oil production figures tend to be more accurate than the weekly estimates, although they are published on several months after the fact.
Eia 851a domestic uranium production report annual eia 851q domestic uranium production report quarterly eia 877 winter heating fuels telephone survey. Aug 31, 2016 the energy information administration has made some changes to the way it reports figures on weekly u. Since its inception in 1983, the ieas oil market report omr has become recognised as one of the worlds most authoritative and timely sources of data, forecasts and analysis on the global oil market including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for. Totals may not equal sum of components because of independent rounding.
Crude stocks have been edging lower after hitting a record 535. The energy information administration eia recently released a new report on drilling productivity that provides estimated changes in oil and gas production for six key oil and natural gas fields depicted below. Summary of weekly petroleum data for the week ending may 8, 2020. Eia forecasts gom production to remain relatively flat, averaging 1. Global oil markets are expected to be relatively balanced in 2018, with some inventory growth expected in 2019, putting modest downward pressure on oil prices. Their stats include all liquids such as ngls, biofuels and even refinery process gain. Eia also expects oil production to decline in each of the plays, with total production forecast to decline to 8. The decline in production shouldnt come as too much of a surprise, as the eia has overestimated its weekly production numbers in recent months, which was confirmed in the last monthly report. Jul 19, 2017 distillate stockpiles, which include diesel and heating oil, fell by 2. Energy information administration eias information. Eia 912 weekly underground natural gas storage report. Eia forecasts natural gas, oil production decline in may from. The latest opec monthly oil market report is out, showing opec crude only production numbers for may, 2016.
Crude oil production in the gulf of mexico fell to a monthly average of 1. Since its inception in 1983, the ieas oil market report omr has become recognised as one of the worlds most authoritative and timely sources of data, forecasts and analysis on the global oil market including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for oecd and selected nonoecd countries. Saudi arabia decreased its crude oil production in 20 to accommodate nonopec production growth, mainly from the united states and, to a lesser extent, canada. I have compared these numbers with those published by the eia in their shortterm energy. Usually, when this report shows unexpected inventory changes in crude oil and gasoline, it causes a ripple. Commercial crude oil inventories for the week ending 10 april. Department of interior, and the bureau of ocean energy management. Instead they are now publishing an abbreviated version on their total energy web page titled. This report outlines the level of crude reserves held and produced by the u. New data from the energy information administration eia shows the united states on track to produce crude oil at record numbers in 2018, according to a. The oil and gas sector guidelines identify some general important factors to be considered when preparing an environmental impact assessment study. The energy information administrations eia crude oil inventories measures the weekly change in the number of barrels of commercial crude oil held by us. Eias weekly petroleum status report provides crude oil and refined products balances. Summary of weekly petroleum data for the week ending may.
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