Register

Peak Oil is You


Donate Bitcoins ;-) or Paypal :-)


Page added on December 12, 2018

Bookmark and Share

US to ‘end 2018 as world’s top oil producer’

US to ‘end 2018 as world’s top oil producer’ thumbnail

U.S. crude oil output growth was expected to slow slightly for this year compared with previous forecasts, the Energy Information Administration said on Tuesday, but at a record 10.88 million barrels per day, the nation will end 2018 as the world’s top producer.

Output this year was forecast to rise 1.53 million bpd to 10.88 million bpd, down from the EIA’s previous estimate of an increase of 1.55 million bpd. The current all-time U.S. annual output peak was in 1970 at 9.6 million bpd, according to federal energy data.

For 2019, U.S. crude oil production was expected to average 12.06 million bpd, the EIA said, up 1.18 million bpd from the prior year which is a small upward revision from the previous forecast of a 1.16-million bpd rise.

A shale revolution has helped the United States produce a record amount of oil this year and topple Russia and Saudi Arabia as the world’s biggest producer.

“The United States will conclude 2018 as the world’s largest producer of crude oil,” said EIA Administrator Dr. Linda Capuano.

“EIA’s December short-term outlook largely attributes the recent decline in Brent crude oil spot prices, which averaged $65 per barrel in November, to record production among the world’s largest crude oil producers and concerns about weaker global oil demand.”

Oil prices have crashed more than 30 percent from their near four-year highs in early October as worries about a glut gripped the market. [O/R]

In 2019, oil demand is estimated to rise by 330,000 bpd to 20.81 million bpd, up from its previous estimate of a rise of 220,000 bpd.

For 2018, U.S. oil demand is expected to rise by 520,000 bpd to 20.48 million bpd, EIA said, slightly raising its previous forecast of a 510,000 bpd rise to 20.47 million bpd.

reuters



113 Comments on "US to ‘end 2018 as world’s top oil producer’"

  1. Makati1 on Fri, 14th Dec 2018 3:13 pm 

    bye bye stupid

  2. Cloggie on Fri, 14th Dec 2018 3:28 pm 

    “Until Admin bans a few children here”

    Not necessary. The only thing required for this board to return to normality is to enforce a single user/password combination and the identity theft games are over.

    Every board has this functionality.

  3. I AM THE MOB on Fri, 14th Dec 2018 4:53 pm 

    CLogg

    Nice source the chineese government..LOL

    You are so fucking dumb..China has the worlds largest debt to GDP and they are the worlds largest oil importer..And when the global shortage hits they are history.

  4. I AM THE MOB on Fri, 14th Dec 2018 4:55 pm 

    Clogg

    You would love to see people banned you book burning nazi…Oh the right is the party of free speech..You fucking faggot..You cant stand free speech that is why you censor your shitty as fuck blog..And that is why you wont ask an expert about your WW2 conspiracies..

    You are a total moron…

  5. I AM THE MOB on Fri, 14th Dec 2018 5:03 pm 

    Clog

    Warning of shortage of essential minerals for laptops, cell phones, electric cars, solar panels, wiring
    https://www.sciencedaily.com/releases/2017/03/170320110042.htm

    We Might Not Have Enough Materials for All the Solar Panels and Wind Turbines We Need
    https://www.popularmechanics.com/science/energy/a25576543/renewable-limits-materials-dutch-ministry-infrastructure/

    Air pollution is choking solar energy around the world
    https://www.popsci.com/smog-reduces-solar-energy?fbclid=IwAR1SxAnksG5YAEgj3doGEptc6zoYoQtFvqmH3SHM6RSIaIYY49qGak4IVbI

    See clogg this is why you don’t put the cart in front of the horse..But you are an uneducated and low iq conservative..So logic and reason isn’t your strong points..

    LMFAO!

  6. Cloggie on Fri, 14th Dec 2018 5:09 pm 

    Well, well, well, three posts dedicated to me by the forum neocon. I must have a total grip on his mind, he can’t stop thinking about Dolfie van der Clog.

    When was the last time you had a good shower?

  7. I AM THE MOB on Fri, 14th Dec 2018 5:53 pm 

    Clogg

    If you would just use logic you wouldn’t look so stupid..

    For example solar and wind have been around for over 50 years..And last year they produced less than 3 percent of total world energy..So thinking they can replace fossil fuels in the near term is very ill logical..

    I know logic is hard for you low IQ imbeciles..

    Don’t worry your shitty loser life will be over soon..

  8. I AM THE MOB on Fri, 14th Dec 2018 6:08 pm 

    CLogg

    Here is proof of Russia peak oil..

    https://ibb.co/JW1j4sf

    All of your fantasies are collapsing..

    I told you so you dumb peckerwood!

  9. Number 73 on Fri, 14th Dec 2018 6:51 pm 

    I am the mob? What kind of idiot takes a name like that?

  10. Anonymouse on Fri, 14th Dec 2018 7:06 pm 

    An idiot call Davy Dumbass. *That* kind of idiot.

    He is Delusional Davy’s sock puppet. aka I AM THE DAVYTURD. He even pretends to ‘fight’ with him from time-to-time.

    The more you know….

  11. Anonymouse on Fri, 14th Dec 2018 7:12 pm 

    It is sad that JuanP ran mak off. It is a depressing state of affairs. I am ready to leave too.

  12. I AM THE MOB on Fri, 14th Dec 2018 8:02 pm 

    Clogg

    Where did you go? Are you mad your going to get your lollipop taken away?

    LMFAO!

  13. Makatis' Pussy on Sat, 15th Dec 2018 6:09 am 

    MEOWW MEOW!, when the Chinks invade our new home I’m lunch Mak!, MEOWW MEOWW!
    Down with those dastardly eveel americanz!
    Meoww!
    Chinese plastic will fill the world and then the yellow peril win!
    MEOWW

Leave a Reply

Your email address will not be published. Required fields are marked *