Fresh estimates from the EIA
2019 output seen at 11.8 million barrels per say compared to 11.76 mbpd prior
2018 output estimate unchanged at 10.79 mbpd
2018 price forecast up to $65.95 from $64.53
2019 forecast $62.04 vs $61.95
In my experience, there isn't much value in these forecasts but there are some notable forecast on OPEC output with the EIA seeing OPEC crude oil production down 10kbpd to 31.92kbpd in June, with losses in Libya (-240kbpd) and Nigeria (-70kbpd) more-than offset by gains in Saudi Arabia (350kbpd to 10.47mbpd).
