EIA Oil Production Forecast
Posted: Thu Dec 15, 2016 8:39 pm
My brokerage house issued a note saying that based on EIA data US oil production has bottomed and will increase in 2017. How does this jive with the current rig count?
U.S. oil production is expected to increase by 300,000 BOPD in 2017. Go to the EIA website and look at the Drilling Productivity Report.
Here is the direct link to the report: http://www.eia.gov/petroleum/drilling/#tabs-summary-2
Keep in mind that outside of the seven regions shown on the report, production is probably on decline.