Drumbeat: February 16, 2013

theoildrum.com 16 Feb '13, 3pm

Drumbeat: February 16, 2013

Rising Unconventional Production Versus Declining Net Exports Some major net exporters, e.g., Canada, are showing increasing net exports, primarily as a result of increasing production from unconventional sources. However, Canadian net oil exports should be put in the context of regional data, and combined net oil exports from the seven major net exporters in the Americas in 2004 (Canada, Mexico, Venezuela, Colombia, Argentina, Ecuador and Trinidad & Tobago) fell from 6.1 mbpd in 2004 to 5.1 mbpd in 2011 (BP, total petroleum liquids). In other words, rising Canadian net oil exports have so far only served to slow the post-2004 regional decline in Western Hemisphere net oil exports. And of course, many people believe rising production from shale resources around the world will result in an indefinite increase in global crude oil production, which perhaps might offset the on...

Full article: http://www.theoildrum.com/node/9837

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