Monthly EIA Oil Output Data Continues to Lag Weekly Estimates

摘要

Production of crude oil in the US swelled by more than 2% in June to reach a new all-time high, according to data from the US Energy Information Administration (EIA), but fell well short of the agency’s optimistic earlier estimates for the month, highlighting the ongoing disconnect between its weekly and monthly data. US oil production rose by 231,000 barrels per day in June to 10.674 million b/d, the EIA reported, representing a new record by a significant margin. However, that is still well shy of the roughly 10.9 million b/d forecast for June by the agency in its weekly estimates.