Industry at a glance
November global oil supply rose by 200,000 bpd and OPEC crude production increased by 135,000 bpd to 29.1 million bpd, its highest level in a year.
November global oil supply rose by 200,000 bpd and OPEC crude production increased by 135,000 bpd to 29.1 million bpd, its highest level in a year. As a result of lower non-OPEC supply prospects for 2010, next year’s call on OPEC is raised by 500,000 bpd to 29 million bpd, compared with 28.7 million bpd in 2009. IEA’s 2009 non-OPEC supply forecast is raised to 51.3 million bpd as Russian gas liquids output is revised up. By contrast, 2010 supply is revised down by 265,000 bpd to 51.6 million bpd, with North American supply now lower. IEA’s forecast for global oil demand is revised up 130,000 bpd to 86.3 million bpd in 2010. Growth remains driven by non-OECD countries, but OECD prospects have slightly improved. While US geophysical activity remains unchanged, international activity increased throughout November and December. The number of international and US rotary rigs increased by about 6% from October to November.
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- Applying ultra-deep LWD resistivity technology successfully in a SAGD operation (May 2019)
- Adoption of wireless intelligent completions advances (May 2019)
- Majors double down as takeaway crunch eases (April 2019)
- What’s new in well logging and formation evaluation (April 2019)
- Qualification of a 20,000-psi subsea BOP: A collaborative approach (February 2019)
- ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing (February 2019)
