Analyst Insights

What Is The Deal With Crude Production?

According to the Weekly Petroleum Status Report, U.S. production has been rangebound from 11.8 MMb/d to 12.3 MMb/d for nearly a year now (green line). 

While we do see some upward trajectory, particularly in the monthly statistics the growth is still meager considering prices over the last year have averaged $90/bbl. 

So, it begs the question; what is the deal with crude oil production? 

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