{"id":48490,"date":"2018-12-03T11:31:49","date_gmt":"2018-12-03T16:31:49","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=48490"},"modified":"2018-12-03T11:31:49","modified_gmt":"2018-12-03T16:31:49","slug":"u-s-crude-production-shows-no-signs-bottleneck","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2018\/12\/u-s-crude-production-shows-no-signs-bottleneck\/","title":{"rendered":"U.S. Crude Production Shows No Signs Of Bottleneck"},"content":{"rendered":"<p>The Energy Information Administration reported that August crude oil production averaged 11.475 million barrels per day (mmbd), up 129,000 b\/d from August. The gain was led by a 106,000 b\/d increase in Texas, a 64,000 b\/d rise in North Dakota and a gain of 24,000 b\/d in Mexico. Seasonal factors affected the overall gain, as production fell by 147,000 b\/d in the U.S. Gulf and rebounded by 43,000 b\/d in Alaska. <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.ino.com\/img\/sites\/ino\/email\/10212.jpg\" width=\"487\" height=\"295\" alt=\"permian basin\" class=\"aligncenter size-full\" \/><\/p>\n<p>The EIA-914 Petroleum Supply Monthly (PSM) figure was 438,000 b\/d higher than the weekly data reported by EIA in the Weekly Petroleum Supply Report (WPSR), averaged over the month, of 11.037 mmbd.<!--more--> <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.ino.com\/img\/sites\/ino\/email\/10213.jpg\" width=\"455\" height=\"1191\" alt=\"permian basin\" class=\"aligncenter size-full\" \/><\/p>\n<p>The September figure was also higher than the 11.460 mmbd estimate for that month in the November Short-Term Outlook. <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.ino.com\/img\/sites\/ino\/email\/10214.jpg\" width=\"487\" height=\"295\" alt=\"permian basin\" class=\"aligncenter size-full\" \/><\/p>\n<p>The September figure was a year-over-year gain of 1.98 mmbd. And the EIA Drilling Production Report estimates a 113,000 b\/d gain for December.<\/p>\n<p>The EIA had been projecting December 2018 output of around 11.240 mmbd for much of the year. Instead, it will be around 11.8 mmbd. <\/p>\n<p>The EIA is projecting that 2019 production will average 12.06 mmbd. As shown below, the growth rate is very slow through September.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.ino.com\/img\/sites\/ino\/email\/10215.jpg\" width=\"487\" height=\"295\" alt=\"permian basin\" class=\"aligncenter size-full\" \/><\/p>\n<p>According to another report, the Permian Basin is expected to add as much as 2.0 mmbd in 2019 as three new pipelines come online. And in 2020, more new pipelines are expected.<\/p>\n<h2 style=\"color: #003380; font-size: 20px;\">Conclusions<\/h2>\n<p>Contrary to expectations by many in the past, growth in production in the Permian Basin is showing no signs of being constrained. Production for 2018 is ending much higher than previously expected and output forecasts for 2019 are likely to be revised higher in the months ahead.<\/p>\n<p>Check back to see my next post!<\/p>\n<p>Best,<br \/>\n<a href=\"http:\/\/www.ino.com\/blog\/meet-ino-com-contributor-robert-boslego\/\" target=\"_blank\">Robert Boslego<\/a><br \/>\nINO.com Contributor - Energies<\/p>\n<p><span style=\"font-size: 12px; font-style: italic;\">Disclosure: This contributor does not own any stocks mentioned in this article. This article is the opinion of the contributor themselves. The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. This contributor is not receiving compensation (other than from INO.com) for their opinion.<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Energy Information Administration reported that August crude oil production averaged 11.475 million barrels per day (mmbd), up 129,000 b\/d from August. The gain was led by a 106,000 b\/d increase in Texas, a 64,000 b\/d rise in North Dakota and a gain of 24,000 b\/d in Mexico. Seasonal factors affected the overall gain, as [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":27,"featured_media":48492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6920],"tags":[28,8457,7224,9075,9432],"class_list":["post-48490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ino-com-contributors","tag-crude-oil","tag-robert-boslego","tag-the-energy-information-administration-eia","tag-u-s-crude-oil-inventories","tag-u-s-crude-oil-production"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v23.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. Crude Production Shows No Signs Of Bottleneck - INO.com Trader&#039;s Blog<\/title>\n<meta name=\"description\" content=\"Contrary to expectations by many in the past, growth in production in the Permian Basin is showing no signs of being constrained.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wwwtest.ino.com\/blog\/2018\/12\/u-s-crude-production-shows-no-signs-bottleneck\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Crude Production Shows No Signs Of Bottleneck - 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