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Category: Forecasts

Kemp: US Oil Production Is Probably Peaking Right Now

April 10, 2015 Posted by Chris Wysong

Reuters analyst John Kemp cites recent EIA forecasts in predicting that 2015 U.S. crude production will reach its peak in April and May. Kemp: US Oil Production Is Probably Peaking Right Now By: John Kemp (Reuters) John Kemp is a Reuters market analyst. The views expressed are his own LONDON, April 8 (Reuters) - U.S. crude production will peak this month, according to revised forecasts published by the countrys Energy Information Administration (EIA). Output will average 9.37 million barrels per day (bpd) in April and the same in May before falling to 9.33 million bpd in June and 9.04 million bpd by September, the EIA predicted in the April edition of its Short-Term Energy Outlook (STEO). Production is expected to peak a month earlier and 10,000 bpd lower than the EIA forecast in the January STEO, reflecting continued low wellhead prices and a sharper-than-expected slowdown in new well drilling. Production is forecast not to exceed this months level for another 18 months. The EIA

Posted in Crude, Forecasts
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