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Everyone because everyone had a different opinion a few months ago. I think US production will continue to decline for another year or so. I think production will flatten out then increase slightly.But the boom times very expensive shale oil brought are over. The price collapse caused the plateau in world oil production that begun about March 2015.
They have just released their latest data through February 2016.
All the data below is in thousand barrels per day and through February 2016 unless otherwise noted.
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Here are some tips on how to apply for a South Korea Visa here in Manila.World C C production, they say, averaged 80,035,000 in 2015.Average for the first two months of 2016 was 79,933.000 or 102,000 bpd below the average for 2015.So with world production continuing to decline, there is little doubt that 2016 production will be well below 2015 production.They have Non-OPEC peaking in March 2015 at 46,504,000 bpd and down by 925,000 bpd in February to 45,579,000 bpd. OPEC C C failed to breach its 2012 peak but did reach 34,562,000 bpd in July 2015 but by February 2016 it was down 488,000 bpd to 34,074,000 bpd. It looks exactly like Canada’s National Energy Board data except the EIA’s data is about 150,000 bpd less than Canada’s NEB shows.It is likely they will continue to hold this production for at least another year. The UK peaked at just under 3 million barrels per day in 1998 and for the last three years or so has averaged about one third that amount. My above projection was made using average change in production of the Energy Ministry’s data.