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Any bets on future US daily production figures?

Unread postPosted: Wed 10 Jan 2018, 21:05:44
by AdamB
Anyone willing to bet against the idea that the US won't crack 10 million barrels a day in crude oil and lease condensate production this month, if it hasn't done it already? Maybe this quarter?

Re: Any bets on future US daily production figures?

Unread postPosted: Thu 11 Jan 2018, 02:03:07
by tita
Maybe... But:

- The EIA weekly estimates was reduced by 290kb/d this week, coming down to a daily production of 9'490 kb/d. This is maybe due to weather conditions.
- The latest monthly report estimated production at 9'637 kb/d in october. So, we need an increase of 400kb/d in three months to crack the 10 million barrels this month... This after the record growth of august and september (+450 kb/d).
- Latest STEO estimates Q4-2017 production at 9'800 kb/d and Q1-2018 at 10'040 kb/d. So, it's just a hair above the 10 millions barrels.

I agree that we are heading to this record. But I would be surprised if we reach it this month. But sure, if US production continue to show strong growth, we'll soon see this historical moment.