A number of news media pieces have recently suggested that oil prices may fall due to soaring output in the US. Output from US light tight oil (LTO) may not rise as quickly as some EIA reports may suggest. One source of confusion is that the EIA creates many reports and some are more reliable than others. The two charts below cover US LTO and US crude plus condensate (C+C) output. US LTO Output from the EIA Drilling Productivity Report (DPR) and EIA Tight Oil (LTO) estimates in kb/d. US EIA monthly C+C output and centered 4 week average output in kb/d. The data for the DPR and for tight oil output are found at the links provided at the US EIA website. The data for US monthly C+C output and the 4 week average US C+C output is also from the EIA. The 4 week average data is […]