6/19/2023 0 Comments Eia oil production by country![]() The full EIA short-term energy outlook can be found here. The previous STEO forecast was released Jan. The current STEO forecast was released Feb. Russia petroleum & liquid fuels production (current) (million barrels per day)Ĭhina petroleum & liquid fuels consumption (current) (million barrels per day) crude oil production (current) (million barrels) Natural gas price at Henry Hub (current) (dollars per MMBtu) 5 will disrupt crude oil production, says EIA. However, the European Union ban on seaborne petroleum products from Russia that took effect Feb. Russian exports have remained higher than EIA expected following the European Union ban of seaborne crude oil from Russia. Oil production in Russia will average 9.9 million barrels per day in 2023, down 1.1 million from 2022. Based on the growth, EIA expects an increase of nearly 2 million barrels per day next year. Global liquid fuelsĪccording to EIA, global liquid fuels consumption will increase by 1.1 million barrels per day in 2023. Russia’s oil production and ability to export petroleum products, several non-OPEC countries’ ability to increase oil production, and China’s loosening of COVID-related restrictions could meaningfully affect this oil price outlook, EIA said.ĮIA’s expectation that oil production will outpace consumption is reflected by the continued growth of global oil inventories. The average for 2022 was $101 per barrel. The average heat content of crude oil is 5.80 mmbtu per barrel (EPA 2022). Thats 1.5 million fewer barrels per day than it was churning out earlier this year. The EIA forecast for crude oil says prices will average $83 per barrel in 2023 and $78 per barrel by 2024. annual CO2 total output emission rate lb/MWh, year 2019 data). Saudi Arabia will now produce 9 million barrels of crude oil per day, the countrys Ministry of Energy said. We continue to monitor developments in Russia and China because of their impact on the global energy sector.” Brent crude oil Russia’s crude oil exports have largely gone unchanged since the EU instituted a ban on seaborne crude oil imports from Russia. “Global demand for jet fuel has increased as China’s economy has opened up following pandemic lockdowns. “Russia and China remain sources of uncertainty in EIA’s (short-term energy outlook) forecasts,” Joe DeCarolis, EIA administrator, said in a statement. In addition, the production of global liquid fuels is expected to lower this calendar year. ![]() Trade data are reported extensively by origin and destination. The Energy Information Administration’s February short-term energy outlook is predicting a drop in oil pricing over the next two years as well as a 50% drop in natural gas prices. The Oil Information database includes detailed and comprehensive annual data of oil supply, demand, trade, production and consumption by end-user for each OECD country individually and for the OECD regions. ![]()
0 Comments
Leave a Reply. |