13-05-2015, 12:25 PM
EIA adjust downwards their US oil production in their May report marginally:
"Total U.S. crude oil production averaged an estimated 9.3 million barrels per day (b/d) in March, but it is expected to decline from June through September before growth resumes. Given EIA's price forecast, projected total crude oil production averages 9.2 million b/d in both 2015 and 2016, 40,000 b/d (0.5%) and 100,000 b/d (1.1%) lower than in last month's STEO, respectively"
http://www.eia.gov/forecasts/steo/?src=home-b1
That means oil production is estimated to be around 9.1m bpd in 2H15. I think they are still too optimistic when shale is contributing to 4m+ bpd and they expect growth to resume in 4Q15 and plateau in 2016 around 9.2m bpd after a -0.1m revision. IIRC their original forecast towards end last year was 9.4m bpd for entire 2015.
"Total U.S. crude oil production averaged an estimated 9.3 million barrels per day (b/d) in March, but it is expected to decline from June through September before growth resumes. Given EIA's price forecast, projected total crude oil production averages 9.2 million b/d in both 2015 and 2016, 40,000 b/d (0.5%) and 100,000 b/d (1.1%) lower than in last month's STEO, respectively"
http://www.eia.gov/forecasts/steo/?src=home-b1
That means oil production is estimated to be around 9.1m bpd in 2H15. I think they are still too optimistic when shale is contributing to 4m+ bpd and they expect growth to resume in 4Q15 and plateau in 2016 around 9.2m bpd after a -0.1m revision. IIRC their original forecast towards end last year was 9.4m bpd for entire 2015.