Daily Energy Report
US crude production, Trump’s tariffs & Cushing inventories, Trump & Venezuela, Japan-Alaska pipeline, India coal, Ukraine gas transit fight, Offshore wind demise, Trump’s SPR promise, and more.
Chart of the Day: US Crude Production Down in November
Summary
US crude production declined from its peak in October to 13.31 mb/d in November, a decline of 122 kb/d, according to the EIA. While most of the decline came from the Gulf of Mexico (- 108 kb/d), production in Texas and New Mexico declined by 70 kb/d and 38 kb/d respectively. Production increased in North Dakota by 41 kb/d, Colorado 27 kb/d, and Oklahoma 12 kb/d. Below we discuss the impact of this decline on OPEC+ decisions.