Natural Gas storage The EIA published its latest Short-Term Energy Outlook and it is not exactly the most bullish report the agency has ever put out. The EIA believes that the losses to U.S. oil production are largely over. It estimates that the U.S. will produce 8.6 million barrels per day (mb/d) in 2017, which is higher than the current output levels of just around 8.5 mb/d. The rig count is up and investment is returning to the shale patch, which should allow for more drilling and new sources of supply. The EIA revised up its forecast from last month for 2017 production by 0.1 mb/d. At the same time, the EIA expects global inventories to build at a 0.3 mb/d pace next year, which is 0.3 mb/d more than the agency predicted in its previous forecast. The EIA sees higher production from the U.S. and Russia, combined with […]