SeekingAlpha On Record US Crude Oil Production -- February 1, 2020

I haven't seen a SeekingAlpha article in ages until a reader sent me a link earlier this week. Now, a second SeekingAlpha article shows up regarding the report that US oil production set a new all-time production record.

I don't think there's much new there, and I don't particularly care for the contributor, but it is what it is. It's mostly an advertisement for the contributor's newsletter or research reports.

Having said that, here's the summary:

• US oil production came in at ~12.88 mb/d according to the latest EIA 914, which was ~100k b/d higher than our preliminary estimate of ~12.75 to ~12.8 mb/d.
• The higher than expected production increase came primarily from a jump in the Gulf of Mexico production of +90k b/d m-o-m.
• According to our production matrix, US oil production in November was the peak with December tracking around ~12.8 to ~12.85 mb/d or slightly down versus November.
• The key for US oil production trajectory this year will be where US oil production bottoms out going into H2 2020.
• We continue to think the global energy agencies are overestimating US oil production for Q2 2020.

He's probably right with regard to that last bullet -- but due to the coronavirus scare more than anything else.