EIA: Short-Term Energy Outlook
In looking at the overall fossil fuel picture, this month’s Short Term Energy Outlook also includes forecasts of the effects from the BP spill and subsequent moratorium:
Forecast crude oil production in 2011 falls by 20,000 bbl/d to 5.38 million bbl/d, which is also about 110,000 bbl/d less than in the previous Outlook. The lower production forecast includes EIA’s preliminary estimates of the total cumulative reductions in the output of crude oil from the deepwater Gulf of Mexico of 2.4 million barrels in 2010 and 25 million barrels in 2011 because of the recently-imposed 6-month drilling moratorium. The reductions in crude oil production increase from a monthly average of about 9,000 bbl/d in September 2010 to 80,000 bbl/d by December 2011.