How EIA Guestimates Keep Oil Price Subdued

The EIA has once again undercut its previous estimates for
U.S. oil production, offering further evidence that the U.S. shale
industry is not producing as much as everyone thinks. The monthly
EIA oil production figures tend to be more accurate than the weekly
estimates, although they are published on several months after the
fact. The EIA just released the latest monthly oil production
figures for June, for example. Meanwhile, the agency releases
production figures on a weekly basis that are only a week old – the
latest figures run up right…

The EIA has once again undercut its previous estimates for
U.S. oil production, offering further evidence that the U.S. shale
industry is not producing as much as everyone thinks. The monthly
EIA oil production figures tend to be more accurate than the weekly
estimates, although they are published on several months after the
fact. The EIA just released the latest monthly oil production
figures for June, for example. Meanwhile, the agency releases
production figures on a weekly basis that are only a week old – the
latest figures run up right…