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44
Volume
44
Issue
1
US tight oil production
In November 2017, US tight oil production increased by 95 thousand b/d
or 1.6% comparing with the previous month level to reach 6.217 million b/d,
representing an increase of 921 thousand b/d from their last year level. The
US oil rig count decreased by 6 rig comparing with the previous month level
to reach 791 rig, a level that is 310 rig higher than last year, as shown in
table
(3)
and
figure (7)
:
Source: EIA, Drilling Productivity Report for key tight oil and shale gas regions, December 2017.
* focusing on the six most prolific areas, which are located in the Lower 48 states. These six regions accounted for 92% of
domestic oil production growth during 2011-2014, Bakken, Eagle Ford, Haynesville, Niobrara, Permian, Appalachia (Utica
and Marcellus), in addition to Anadarko region which become the target of many producers in the recent years, as of July
2017, there are 129 operating rigs in the Anadarko region.
Figure - 6
World Oil Supply and Demand
(Million b/d)
Table 3
US* tight oil production
(Million b/d)
November
2017
October
2017
Change from
October
2017
November
2016
Change from
November
2016
tight oil production
6.217 6.122 0.095
5.296
0.921
Oil rig count (rig)
791
797
(6)
481
310
Tables (7)
and
(8)
in the annex show world oil demand and supply for the
period 2015-2017.