The EIA’s Short Term Energy Outlook is out…

July 11, 2018 by Jim Colburn Leave a Comment

The link is here…

Supply/demand looks balanced until next year:

EIA estimates that U.S. crude oil production averaged 10.9 million barrels per day (b/d) in June, up 0.1 million b/d from the May level. EIA forecasts U.S. crude oil production to average 10.8 million b/d in 2018, up from 9.4 million b/d in 2017, and to average 11.8 million b/d in 2019. If realized, both of these forecast levels would surpass the previous record of 9.6 million b/d set in 1970.

EIA forecasts that total U.S. crude oil and petroleum product net imports will fall from an annual average of 3.7 million b/d in 2017 to an average of 2.4 million b/d in 2018 and to an average of 1.6 million b/d in 2019, which would be the lowest level of net imports since 1958.

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

Our associates bring decades of experience to the table, as they seek to help our clients understand the markets. CRG will distill the myriad of pricing variables mentioned above into coherent research that is to-the-point and tailored to a clients hedging or pricing needs. In addition, CRG is available for consulting assignments and speaking engagements. CRG does not manage money or trade for itself.

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