UNITED STATES

(in North America)

CAPITAL: WASHINGTON

POPULATION: 299 mm

AREA (on): 9,631,400 km2

OIL PEAK: 1970

SUPPLY

Oil production in the USA peaked in 1970 as the old onshore fields of the southern states began to deplete. Despite new output from Prudhoe Bay in Alaska and from shallow waters in the Gulf of Mexico, production has never recovered and since 1996 decline has been almost continuous.

However offshore fields located in the deep waters of the Gulf of Mexico are reducing decline rates and, with this offshore output, some short-lived recovery in total oil production is forecast up to a plateau by 2020.

Except for coal bed methane gas production remained almost flat through the 1990s, restrained by demand. Small increases in supply began in 2005, reaching a peak in 2009, reflecting reduced demand during the recession. However new volumes of shale gas and deep water developments should allow the USA to keep gas production on a plateau for many years, despite waning prospects onshore in conventional gas fields.

 

DEMAND

US oil consumption was increasing up to 2005, flattened off through 2007 and was declining in 2008 and 2009. Higher prices and the recession have, in turn, restrained demand. Some recovery is expected after 2010 although increases will decelerate and finally cease by 2016 when higher prices will force conservation, especially through the use of smaller automobiles. Imported oil volumes are increasing anyway, posing financial and security of supply issues for the US government.

Gas consumption is now growing steadily and will increase further as new ways to substitute gas for oil are developed. Accordingly US gas imports will need to increase and, besides piped gas from Canada, LNG will be shipped into the country from many parts of the world.

 

 
 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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