Petroleum Production – United States - Review of the California Oil Industry in 1928

During 1928 low prices in the East greatly restricted the Atlantic market for California petroleum. The situation was made difficult by only partial control of production. The month of December is estimated in the figures presented here and it is hoped that the differences in the final figures will be immaterial. Daily averages are used throughout. Production Daily average crude production for 1928 was 633,942 bbl., very little more than 1927. Natural gasoline production was 35,453 bbl. daily and the supply (crude and natural gasoline) was 669,395 bbl. However, potential supply was 785,621 bbl. daily, 47,436 more than that of 1927. This is accounted for by more production being shut in so that 116,000 bbl. daily was conserved in 1928 which would otherwise have been produced. Fig. 1 shows production by months for 1928. It will be noticed that while crude production held fairly uniform from January to October, the