North Dakota Flaring, Canada Peak Oil Production: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

NATURAL GAS
U.S. Pulls 59 Billion Cubic Feet of Natural Gas from Storage - The U.S. Energy Information Administration (EIA) said U.S. utilities pulled 59 billion cubic feet (Bcf) of gas from storage during the week ending December 3. That compares with a decline of 78 Bcf in the same week last year and a five-year (2016-2020) average decline of 55 Bcf. (Reuters)

PRODUCTION
North Dakota Meets Natural Gas Capture Target - In North Dakota, the rate of natural gas flaring declined to an average of 7.5% this year through September. This decline in natural gas flaring resulted in producers capturing 92.5% of produced natural gas, which meets the state's goal to capture 91% of the natural gas produced. (EIA)

Regulator: Canadian Oil Production to Peak Seven Years Sooner Than Previously Forecast - Oil output in Canada, the world's fourth-largest producer, will climb over the next decade and peak at 5.8 million barrels per day (BBL/d) in 2032, seven years sooner than previously forecast, the Canada Energy Regulator (CER) said on Thursday. The CER said a rebound in oil prices after the pandemic-related crash last year meant more near-term investment would help production grow quicker than previously anticipated, before it starts to slowly decline to 4.8 million BBL/d by 2050. The level of anticipated peak production is unchanged from last year's projection. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.