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YGRN - EIA 914: November Is The Last Month Of Growth Until Second-Half 2020
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Welcome to the EIA 914 edition of Oil Markets Daily!
EIA 914 came out on Tuesday and was smack in line with our estimate of ~12.65 mb/d. One thing we find reassuring so far this year is that our estimate of US oil production has been the least surprising variable. This gives us comfort knowing that our future oil supply & demand balance is in much better hands given our better understanding of the data.
Now, looking at all of the leading indicators, November is likely the last month of supply growth for US