![]() ![]() Production in the federal offshore Gulf of Mexico averaged 1.6 million b/d in 2016, the highest annual production ever recorded for that region.Īlthough U.S. Notably, production in the Permian Basin increased from 1.9 million b/d in January 2016 to 2.1 million b/d in December. Production trends varied significantly across U.S. Average oil production for 2016 was 8.9 million b/d, below the 2015 level of 9.4 million b/d, but still 1.3 million b/d greater than the average annual level over 2011-15, when production was generally rising. ![]() In the last quarter of 2016, production began to rise, reaching 8.8 million b/d in December (Figure 1). crude oil production trended downward, dropping from 9.2 million barrels per day (b/d) in January to 8.6 million b/d in September. Through the first three quarters of 2016, U.S. It appears that the November 2016 Organization of the Petroleum Exporting Countries’ (OPEC) agreement to cut production beginning in January 2017 led prices to rise at the end of 2016 in anticipation of some level of member country compliance with the production cuts. The increase for WTI was its largest annual price increase since 2009. The Brent spot price increased from $31 per barrel (b) in January to $53/b in December, while the WTI spot price increased from $32/b to $52/b over the same period. With the removal of restrictions on exports of domestically-produced crude oil at the end of 2015, crude oil exports increased and the difference between Brent and WTI crude prices narrowed, which made crude imports relatively more attractive.īoth Brent and West Texas Intermediate (WTI) crude oil spot prices increased in 2016. Total production managed to stay above the five-year average thanks to prior year increases. However, monthly production began growing in the fourth quarter of the year after declining over its first three quarters. oil production in 2016 was below its 2015 level. Sources: Form EIA-914, Monthly Crude Oil and Lease Condensate, and Natural Gas Production Report and its predecessor, Monthly Natural Gas Production Report BSEE reports PointLogic Energy Enverus IHS Markit industry reports and EIA computations.Even with a rising crude oil price throughout most of 2016, total U.S. Federal Offshore Pacific is included in California through 2021, and in "Other States" starting in 2022. Through 2021, "Other States" includes Alabama, Arizona, Florida, Idaho, Illinois, Indiana, Kentucky, Maryland, Michigan, Mississippi, Missouri, Nebraska, Nevada, New York, Oregon, South Dakota, Tennessee, and Virginia. The "Other States" category comprises states/areas not individually collected on the EIA-914 report. Data for Arkansas, California, Colorado, Kansas, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, Wyoming, and Federal Offshore Gulf of Mexico are individually collected on the EIA-914 report. Notes: Natural gas production represents monthly natural gas gross withdrawals estimated from data collected on the EIA-914 report. Department of the Interior, Bureau of Safety and Environmental Enforcement (and predecessor agencies), Enverus, IHS Markit, and first purchase data reported on Form EIA-182, Domestic Crude Oil First Purchase Report. Data for states/areas not individually reported on the EIA-914 (Alabama, Alaska, Arizona, Federal Offshore Pacific, Florida, Idaho, Illinois, Indiana, Kentucky, Michigan, Mississippi, Missouri, Nebraska, Nevada, New York, South Dakota, Tennessee, and Virginia) are from EIA estimates published in the Petroleum Supply Annual and Petroleum Supply Monthly reports, based on crude oil production data from state government agencies and the U.S. Sources: Data for Arkansas, California, Colorado, Federal Offshore Gulf of Mexico, Kansas, Louisiana, Montana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, Utah, West Virginia, and Wyoming are estimated from data collected on the EIA-914 report. Production volumes may have been revised for all states/areas. Number a zero may indicate volume of less than 0.5 thousand barrels per day. The sum of individual states may not equal Notes: Crude oil includes lease condensate. ![]()
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