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Tuesday, December 26, 2017

October, 2017, US Crude Oil Production Data To Be Released Later This Week -- Richard Zeits -- December 26, 2017

EIA to report US crude oil production for October, 2017, at the end of the week. Richard Zeits forecast and my comments:
  • 9.45 million bopd; above the 9.28million bbls/day implied by the EIA's weekly estimates
  • Zeits reminds us that October, 2017, production was strongly impacted by Hurricane Nate
  • Zeits again wades into the controversy regarding EIA forecasts
  • oil peak folks think the EIA is overly bullish
  • Zeits thinks EIA may be under-estimating the oil industry
  • the best "news": unless I missed it, Zeits did not mention rig count; CNBC was still emphasizing rig count as the best way to measure/forecast US crude oil productivity

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