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OILX - U.S. Oil Production Is Starting To Grow Again
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
Welcome to the starting to grow edition of Oil Markets Daily!
At the end of last year, we created a gauge to measure whether US oil production was increasing rapidly as the EIA weekly oil storage reports were suggesting (weekly + adjustment) or it stalled.
We started to track the weekly US oil production figure and the weekly natural gas production figure to see the overall trend. As you can see, part of the positive adjustment in Q4 last year was related to EIA underestimating US oil production growth, but with the frequent revisions, we