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(Seeking Alpha) I follow the JODI World Oil Database primarily because it is now four months ahead of the EIA international database. I make some adjustments however. I use the OPEC MOMR “secondary sources” for all OPEC data, where JODI also uses the MOMR but uses their “direct communication” data instead. The OPEC portion of the JODI data is “crude only” and will therefore be somewhat less than the EIA reports.

I use the Canadian National Energy Base data for Canada instead of the strange numbers JODI has for Canada. And I use the EIA data for the few small producers that JODI does not report.

With these Changes, I think I have composed an excellent World Oil Database from this composite data. And with the October data just released, I have composed the below charts. The data is through October and is in thousand barrels per day. World oil production peaked, so far, in July at 76,702,000 barrels per day and in October stood at 76,128,000 bpd or 574,000 bpd below the peak. Non-OPEC peaked, so far, in December 2014 at 45,530,000 bpd and in October stood at 44,662,000, down 868,000 bpd or just under 2% in 10 months. For the first […]