- EIA sees 2022 output rising 770K barres vs 640K bpd in last month's forecast. Output will hit 11.97 mbpd.
- Sees 2023 output up 630K bpd vs 610K bpd prior. To 12.6 mbpd.
Majors operating in the Permian have been talking about significant increases in drilling. Some of that is coming at the expense of development elsewhere in the world so it's not all new oil but shale is short-cycle so it will be coming to market sooner.
Of course, the EIA doesn't have a crystal ball and forecasts are just forecasts.
