EIA forecast of US crude production by quality
The US Energy Information Administration (EIA) has released a paper on the short term domestic forecast for domestic crude oil production by type. According to the EIA, it is important to study crude type production projections for several reasons:
- US crude streams vary widely in quality.
- The economics surrounding various options for the domestic use of additional domestic oil production are directly dependent on crude quality characteristics.
- Actual or potential export values also vary significantly with quality characteristics.
The EIA highlights that production of light sweet crude from tight resource formations. Approximately 96% of the 1.8 million bpd growth in production between 2011 and 2013 consisted of light sweet grades with API gravity of 40 or above and a low sulfur content of 0.3% or less.
EIA analysis suggests that US supply of lighter API gravity crude will continue to outpace that of medium and heavier crudes. More than 60% of EIA’s forecast of production growth for 2014 and 2015 consists of sweet grades.
EIA has additionally analysed crude oil production according to seven regions.
Adapted from a press release by Emma McAleavey
Read the article online at: https://www.worldpipelines.com/business-news/05062014/eia_us_crude_oil_production_656/
You might also like
World Pipelines Podcast: Going global with IPLOCA
In this episode, Elizabeth Corner speaks to Georges Hage, Executive Secretary at IPLOCA, about IPLOCA's insights on the culture and characteristics of the pipeline contractor community, and how it works to support sustainable energy infrastructure.
Oil and gas companies add renewable fuels to low-carbon portfolio, says GlobalData
Share of fossil fuels in the world’s energy mix declined from 82% in 2022 to 81.5% in 2023.
