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USO - U.S. Shale Oil Production - All That's Left Is The Permian And That Won't Last Forever Either
United States Oil Fund
Welcome to the not much left edition of Oil Markets Daily!
Over the coming months, the story that US oil production growth is set to decelerate materially will become mainstream. We are already seeing it in the real-time data with US oil production now falling to ~12.6 mb/d, but this will become more evident in the coming months as EIA 914 reports double verify the data we see.
More importantly, though, is the breakdown of the US oil production growth this year.
Source: EIA, HFI Research
Using an estimated 11,728 wells to be completed this