US shale boom masks oil decline
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
| Summary: Has oil finally peaked? The US shale boom is firing on all cylinders, but data shows many of the world’s oil producing nations are revealing flat or declining output. |
| Key take-out: The global oil dynamics have changed: Questions remain over the next steps in the Middle East and when US shale production will reach a peak. |
| Key beneficiaries: General investors. Category: Commodities. |
The US shale oil boom has been getting immense attention, but while the American energy sector thrives, new information from the authoritative US-based EIA (Energy Information Authority) shows many of the world’s key oil producing nations are revealing either flat or declining production.
Recent US shale oil growth sits on top of a bumpy production plateau of the rest-of-the-world.
It seems to get ever harder to increase production. Azerbaijan, for example, has clearly ‘maxed out’.
Africa has peaked.
Chinese crude production increased by just 1 million b/d over a long period of 12 years, basically offsetting a steady decline in the rest of Asia.
Crude production in Brazil had a maximum in January 2012. Colombia has had a hard time increasing production. Venezuela’s production has remained on exactly the same plateau for several years, suggesting that the data may not be accurate.
While Mexico’s production has peaked, US shale oil and Canada’s synthetic crude production from tar sands is, of course, increasing.
The world outside the US and the Middle East peaked in January 2011 at 40.9 million b/d, marked by the production drops during the Libyan civil war. The issue now is what will happen next in the Middle East? And when will the US shale oil boom reach a peak?
This article first published at CrudeOilPeak.com, a ‘peak oil monitoring’ service run by Matt Mushalik (MEAust, CPEng).
Call 1300 880 160
Start a chat
Schedule a call
