U.S. Oil Production now on steep decline

[dan_s]

As I have been telling you for many months, the rate of decline in both U.S. oil & gas production will accelerate this summer. It has already started and will get worse before it gets better.

Read: http://www.oilandgas360.com/u-s-product ... dium=email

AS I HAVE ALSO REMIND YOU GUYS NUMEROUS TIMES: The weekly production numbers that EIA reports are nothing more than wild ass guesses. The upstream companies themselves do not know their actual production until at least 30 days after the end of a month. We are just now getting actual production for April from state reports.

U.S. oil and gas production has fallen MUCH FURTHER than EIA has been telling the market and it will get worse. There is zero chance of holding up production when the active rig count falls by more than 75%.

BTW oil production in Latin America is also falling much faster.