Latest forecasts
The EIA sees 2019 oil output at 12.39 million barrels per day, up from 12.30 mbpd in the prior forecast. For 2020, they now see 13.1 mbpd compared to 13.03 mbpd previously.
All the indications I'm seeing are for slower investment in US production so I'm not really on board with this but we're talking about some very small changes here. WTI has been steady since the release and is down 34-cents to $64.05 on the day.
