Saudi Arabian Oil Production

US Oil Rig Count and Oil Production

Oil Supply Continues Flat

April Saudi Oil Production

The above graph summarizes the data on Saudi oil production (and oil rig count on the right scale).  The feature of most current interest is the large production cut that was implemented in the last months of 2012 (more background here).

It appears that in April there was a noticeable uptick in production of around 100-150kbd.  That is nowhere near enough to offset the cut in late 2012, but since it shows up in both sources with data available for April, it's most likely a robust feature of the data.

April Oil Supply Little Changed

The April numbers are out from the IEA and OPEC, and the overall pattern of flat supply since 2012 is continuing (graph above, not zero-scaled).

I refer you to last month's update for a much more detailed explanation of the context.  April seems to have changed the picture so little that it doesn't make sense to repeat everything in there.

US Crude Oil Production 1920-2012

Non-OPEC Liquid Fuel Production Flat in 2011-2012

Oil Supply Flatness Continues

Bakken Well Stats

US Oil Rig Count Declining

Stabilization of Iranian Oil Production

IEA: US To Be World's Largest Oil Producer

OPEC: Oil up slightly in October

Iranian Latest

US Oil Rig Boom Leveling Off?

Iranian Oil Production Falls Further

Rising Energy Output/Input Ratio for US Oil and Gas

Oil Wells Drilled

US Rig Count Trends

US Well Footage Stats