Chart: SAFE, EIA Regardless of who is living in the White House, global demand and supply cause price movements and drive production of crude oil. SAFE has added the presidential terms to the bars of crude oil production since the end of Dwight Eisenhower’s term. The U.S. presidential election is Tuesday, Nov. 8. Don’t forget to vote. The website Diffen.com presents a comparison
China’s crude oil imports at a four-month high as the country halts high-cost production Crude oil production from the world’s largest energy consumer hit a six-year low in August, according to information released by the National Bureau of Statistics Tuesday. Production in China fell 9.9% from a year ago to about 3.9 MMBOPD, the lowest since December 2009, according to
U.S. output down 460 MBOPD since May, making Saudi Arabia the largest global oil producer for now As lower oil prices put pressure on U.S. shale expansion, Saudi Arabia has reclaimed the top spot as the world’s largest producer of crude oil, according to the International Energy Agency’s (IEA) monthly report. “Saudi Arabia’s elevated oil production has allowed it to
Even as overall production declines, new-well production is up With just two exceptions, every major play tracked in the Energy Information Administration’s (EIA) Drilling Productivity Report (DPR) for August is showing lower month-over-month production, but the EIA anticipates greater production per new-well in every play except oil wells in the Haynesville, where the EIA expects no change. According to the EIA,
