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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
The latest EIA short term energy report cut the estimated US oil output in 2024 to 12.65mbpd from the previous forecast of 12.8mbpd. The main driver for the decrease was a weakening production outlook from the North Dakota’s Bakken shale field.
- Mature wells that are producing more gas than expected are hurting crude output from the Bakken region according to the Energy Information Administration on Tuesday.
- The shale field is showing signs of age, threatening to hold back US oil production at a time when global oil demand could increase driven by a Chinese recovery.
- US output is still on course to set a record greater than the 12.3mbpd produced in 2019. The EIA forecasts crude oil production to rise to 12.49mbpd in 2023.
Source: EIA
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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