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EIA: US June production down vs. May and vs. weekly estimate
Posted: Fri Aug 30, 2019 4:43 pm
by cmm3rd
EIA 914 Report out - US prod DOWN 33k to 12,082k June/May
Weekly estimates for June had averaged 12.2 m bpd. Weekly estimates too high, again.
https://www.eia.gov/petroleum/production/
Re: EIA: US June production down vs. May and vs. weekly esti
Posted: Fri Aug 30, 2019 5:09 pm
by dan_s
Every month this year EIA's "Short Term Energy Outlooks" ("STEO") has forecast that U.S. production would go up a lot more than actuals. You'd think they'd figure out that with the active rig count falling like a rock that there is no way we can be increasing production. IMO EIA has a "agenda" to keep fuel prices as low as they can for as long as they can.
Re: EIA: US June production down vs. May and vs. weekly esti
Posted: Sat Aug 31, 2019 12:44 pm
by dan_s
I went to the details of the EIA report and see that they report May twice in the details. The idiots can't even report actual production correctly.
https://www.eia.gov/petroleum/production/ click on the spreadsheet version of the details.
IEA's monthly Oil Market Report relies 100% on U.S. forecasts from EIA for their global oil market projections. Both agencies have a long history of over-stating supply and under-stating demand. IEA is based in Paris and the people that sign the paychecks want lower fuel prices. I believe there is pressure on IEA to "slant" their reports to achieve that goal.