Outrun Change

We need to learn quickly to keep up with the massive change around us so we don't get run over. We need to outrun change.

Daily oil production in North Dakota drops 2.65% in January ’16

The year and half of effort by Saudi Arabia to shut down the shale industry is finally having a visible impact on production in North Dakota. Average production dropped 30,590 bopd to average of 1,122,106 bopd in January. That is a 2.65% drop in January following a 2.46% drop in December.

I’ve seen speculation that the January output would drop dramatically. Not sure that two and a half percent meets that particular forecast.

January production is down 105k bopd from the high water mark in December 2014. Going to take a reeeeeally long time to clear the 1 million bopd world-wide oversupply at that rate.

Don’t have time to update all my graphs this month, so here is the basic production graph I’ve been tracking:

oil production 1-16

 

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