Insight
Lower 48 oil supply: the Permian and the Rest
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
We have just released our latest Lower 48 oil supply view as part of the Macro Oils long-term 2021 outlook to 2050. After three consecutive forecast downgrades, we are now upgrading our production outlook through the medium term. As the industry recovers from a rocky 2020, optimism is warranted, but not all Lower 48 regions benefit. What has changed and where? We expect Lower 48 to peak at a higher production level than in our prior outlook. We expect operators to focus on low-cost, core acreage in the short term, leaving less productive inventory for the latter half of the forecast. The recovery hasn’t been uniform, and our outlook reinforces the Permian’s heft over “the Rest” of the Lower 48 oil plays.
Table of contents
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Executive summary
- Upgraded near-term production under higher commodity prices
- Key changes to our view:
- How the next three decades play out
- The Permian and the Rest – a clearer paradigm
- A changing corporate landscape brings additional risk to the forecast
- Conclusion
Tables and charts
This report includes the following images and tables:
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Lower 48 productionLower 48 production by playTen-year growth outlook
What's included
This report contains:
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