As I have posted here numerous times, the weekly oil production data reported by EIA is nothing but a guess. Rigdata now believes the EIA's new method of collecting production data may be worse than the old method. Just for the state of Texas, the difference between what the EIA has reported and what the Texas Railroad Commission shows has grown to over 400,000 barrels per day. Read article below.
https://rigdata.com/rigdata-insights/bl ... -you-trust
EIA may be overstating U.S. oil production
EIA may be overstating U.S. oil production
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group