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Summary May Non-OPEC production decreased by 148 kb/d to 48,834 kb/d. World oil production in May decreased by 638 kb/d to 78,947 kb/d according to the EIA. The supply-demand situation for 2023 is expected to be very tight with February 2023 showing a shortage of over 2,000 kb/d and March and December 2023 showing a shortage of over 1,000 kb/d. Athitat Shinagowin A guest post by Ovi Below are a number of Crude oil plus Condensate (C + C) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated to May 2022. This is the latest and most detailed world oil production information available. Information from other sources such as OPEC, the STEO, and country-specific sites such as Russia, Brazil, Norway, and China are used to provide a short-term outlook for future output and direction for a few countries and the world. The US report has an expanded view beyond production by adding rig and frac charts. May Non-OPEC production decreased by 148 kb/d to 48,834 kb/d. The biggest decliners were Canada 193 kb/d, Brazil 120 kb/d, US 56 kb/d, and Norway 38 kb/d. The biggest offsetting increases came from Kazakhstan 148 […]
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