Tag Archives: non-OPEC

The Repricing of Oil

Dear Readers: I’m currently writing a long-form post twice a month now for Chris Martenson’s excellent website, Peak Prosperity.com. Accordingly, I’ll be publishing the first (and free) part of these essays here at Gregor.us. Enjoy. — Gregor Now that oil’s price revolution – a process that took ten years to complete – is self-evident, it […]

The Latest Non-OPEC Oil Supply Data, and Discussion

EIA Washington recently published data revisions to global oil production, going back at least twenty years. Here, I update annual average oil production for Non-OPEC, which used to account for 60% of total global supply but has had trouble sustaining increases–even in a high-priced oil environment. As of 2011, Non-OPEC supply fell to 57% of […]

A New Dawn of Energy Security for the West? A Non-OPEC Update

OPEC currently supplies the world with 43% of its oil. The rest is supplied by Non-OPEC producers. One of the most important distinctions between the two is that OPEC oil largely comes from state-run oil companies. Saudi Aramco in Saudi Arabia, PDVSA in Venezuela, and the National Oil Company of Iran, for example. Meanwhile, in […]

Under the Surface of Non-OPEC Supply

In 2002 Non-OPEC oil production contributed 60.75% of the world’s total oil supply. But technology, competition, and access to capital through listings on stock exchanges have not been able to overcome limits of geology. Global giants such as Royal Dutch Shell and Exxon Mobil have essentially abandoned the effort to meaningfully expand their oil reserves. […]

Happy New Year from The North Sea. Or, Secrecy By Complexity

The dramatic fall of Mexican oil production, and its largest field Cantarell, is often cited as a signature example of the problems facing Non-OPEC supply. Since the production highs of 2004-2005, Mexican production has lost over 800 kbpd (thousand barrels per day) which is fairly dramatic for a country that was producing around 3.4 mbpd […]

Non-OPEC Crude Oil Update: First Half 2010

Global production of crude oil turned away from its year long recovery of 2009, and lurched downward again this Spring.  Fresh data through June, just updated from the EIA on Friday, shows that Non-OPEC is leading the downturn coming off the Winter highs.  After recovering to a 2010 high of 42.435 mbpd (million barrels a […]

Saudia Arabia and Russia

In a recent interview on the Keiser Report I found myself casually mentioning that Russia had now surpassed Saudi Arabia to become the number one oil producer in the world. This is not an event that happened last month, either. The leap forward emerged as far back as 18 months ago, in October of 2008. […]

Portrait of Price vs Non-Opec Supply

Non-OPEC crude oil supply peaked six years ago in 2004, at a sustained annual average of 42.068 mbpd (million barrels per day). Supply then fell every year thereafter through 2008, before making a small recovery in 2009. What’s telling, of course, is that supply peaked in a year when the price of oil averaged only […]

Peak Non-OPEC in 2010, Officially Speaking?

You will recall the big dust up between the Guardian newspaper and IEA Paris in November of last year. The newspaper broke the story that the international energy agency had either been fudging data or at the very least downplaying data, in an effort to diminish the urgency of peak oil. The Guardian claimed to […]

Non-OPEC Production Soars in Latest EIA Data

In October of 2009, for which EIA Washington just supplied the latest data, Non-OPEC crude oil production soared by over 500 kbpd, going from 41.567 mbpd to 42.109 mbpd. This is the first time since the Spring of 2007 that Non-OPEC hit a single month’s production level at/above 42 mbpd. (Nota Bene: all data has […]