SZO - U.S. Petroleum Liquids Production Tops 20 Million Barrels Per Day
The media and many oil analysts are fixated on the wrong number, U.S. crude oil production when it should be focused on total petroleum liquids production, which includes "other supply." The market should be focusing on total petroleum liquids production because other supplies are an integral part of petroleum supplies.
As shown above, 'other supply' is part of the Energy Information Administration's ("EIA") Weekly Petroleum Supply Report ("WPSR"). While domestic crude production is currently estimated at 12.900 million barrels per day ("mmbd"), other supply is 7.281 mmbd. Taken together, the 4-week trend has topped 20