Lower 48 output falls to 50-year low

U.S. Lower 48 oil production was 4.8 million b/d in January, the lowest in more than 50 years and down 6% from January 1998, the American Petroleum Institute said. Alaska, which accounts for a fifth of U.S. production, saw its output plunge 15% in January. API said that, over the past 4 years, Alaska's decline has averaged 5-8%/year, and the state's output now is more than 60% below its March 1988 peak of nearly 2.1 million b/d. It said that, adjusted for inflation, oil prices are at their lowest level since the great depression of the 1930s and have resulted in shut-in wells and delayed production projects. API said that recently released federal employment data ...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected