2024-05-14 16:47:01 ET
Summary
- The U.S. oil production drop in January was related to weather, and February data showed a sharp jump.
- But if you look at our dataset, the real implied growth from U.S. shale is ~35k b/d per month.
- In addition, NGL and associated gas production growth are starting to outpace crude production growth.
- Slower U.S. shale growth is gaining traction and should become mainstream by year-end.
Please read part 1 of the report .
EIA released its monthly U.S. oil production figures for February , showing a material rebound. At 13.154 million b/d, U.S. oil production increased by ~600k b/d m-o-m. The rebound was entirely expected, as the decline in oil production in January was related to the weather....
Read the full article on Seeking Alpha
For further details see:
An Alarming Trend Is Developing In U.S. Shale Oil Production (Part 2)