This is a good global oil production graph. And some oil production news and updates.
”Rig and Frac Report for September 29
Both Rigs and Fracs are Down again this week
– US Rigs down 4 to 447
– Permian rigs down 4 to 296 with 5 from Texas while NM added 1.
– Eagle Ford flat at 43
– NG down 1 to 105 (not shown)”
End quote.
In this recent update by Julianne Geiger on www.oilprice.com, the picture is even bleaker. I quote from the article:
"The total number of active drilling rigs in the United States fell by 7 this week, after falling 11 last week to a low not seen since February 2022, according to new data from Baker Hughes published Friday."
* * *
The following graph provided by Matt Mushalik in this comment in the same comment threads, confirms what I have said before (in this blogpost), that the Permian has peaked and is in decline (this is also confirmed in the first graph above, where one can clearly see that not only Permian is declining, but overall shale oil production):
