Bogota Free Planet Comments
How EIA Guestimates Keep Oil Prices Subdued
Posted by BFP Staff on Sep 6, 2017 at 06:38 PM
U.S. oil production.
By Nick Cunningham of Oilprice.com
The EIA has once again undercut its previous estimates for U.S. oil production, offering further evidence that the U.S. shale industry is not producing as much as everyone thinks.
The monthly EIA oil production figures tend to be more accurate than the weekly estimates, although they are published on several months after the fact. The EIA just released the latest monthly oil production figures for June, for example. Meanwhile, the agency releases production figures on a weekly basis that are only a week old – the latest figures run up right through August.
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