During March 2018, World Total Petroleum Consumption exceeded World Total Petroleum Production by 698 MBbls per day. For the past 12 months, World Consumption averaged 668 MBbls per day more than Production.
During March 2018, the OPEC countries that agreed to reduce their Crude Oil production during the Algiers Accord, have done so by 1,754 MBbls per day since December 2016 levels. However, Libya and Nigeria, which are OPEC countries but exempt from the production cuts in this agreement, had production increases of 705 MBbls per day during this same time period. During May 2017, OPEC and other major oil producing countries, including Russia, agreed to continue keeping 1,800 MBbls per day off the market for another 9 months past June 2017. (It’s noteworthy that through December 2017, Russia has decreased its Crude Oil & Lease Condensate production by only 281 MBbls per day since December 2016.)
OPEC nations met in Vienna on November 30, 2017 and decided to continue voluntary cutbacks through all of 2018, as determined in the ‘Declaration of Cooperation’. They will meet again in June 2018 to consider further adjustments, as needed.
During March 2018, Russia had reduced its Total Petroleum production by 264 MBbls per day (compared to December 2016 levels), while the US Total Petroleum production volumes increased by 2,252 MBbls per day, compared to December 2016. The US Crude Oil & Lease Condensate production increased by 1,605 MBbls per day during this same time.
From Sept 2016 to March 2018, the US Crude Oil & Lease Condensate production has increased by 1,823 MBbls per day.
Ryder Scott近期与美国工程院著名院士、SEC顾问Dr. W. John Lee发表的页岩评估方法Extended Exponential Decline Curve Analysis在工业界引起强烈反响,多次受邀在世界石油工程师协会和石油评估工程师协会进行讲座,始终保持着行业内技术的领先地位。