NORTH AMERICA

(The Americas)

 

POPULATION:  mm

AREA (on):  km2

OIL PEAK:  (forecast)

 

SUPPLY

Oil production in North America peaked in 1973 and had been declining slowly until increases in output from the deep waters of the Gulf of Mexico and from the Athabascan Oil Sands in Canada began to offset onshore depletion. Continued growth from these areas, as well as from offshore Canada, albeit slowed in 2009 through reduced investment, will now allow North America to increase oil output for some years.

North American gas production had been almost flat for a decade, constrained by flat US demand. But with onshore gas production near maximum, despite new volumes from unconventional sources, and only modest growth in offshore output, total gas production is expected to grow a little for the next decade.

 

DEMAND

North American oil demand was rising steadily after a flat period in the earlier years of this millennium. However, demand has now been constrained by higher prices and a rising import bill for the USA, with falls in both 2008 and 2009. Some recovery is expected for a period after 2010.

Gas demand will begin to increase following years of slow or zero growth. Increases are forecast to accelerate as the US looks to gas as an alternate energy source in the transport sector and as Canada uses larger volumes in its expanding oil sands industry. From 2011 North America (USA) is forecast to be importing increasing quantities of LNG from plants throughout 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 region can be commissioned,

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

 

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