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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.
OIL
US oil production is projected to average 13.2mb/d in 2024 according to Kpler suggesting a year on year increase of 330kb/d.
- Projected growth surpassed expectations last year increasing by over 1mb/d to 12.9mb/d compared to general consensus at the start of the year for a rise of 0.6mb/d, aided by a 30% drop in production costs.
- The increase in production supported a substantial rise in exports, up by 650kb/d y/y to average 4mb/d with an extra 410kb/d shipped to Europe and 230kb/d to Asia, particularly China.
- US production has already increased by another 600kb/d compared to the same period last year. Growth is however expected to slow for the remainder of 2024 amid a continuously rising baseline and a plateau in output growth during Q2.
Source: Kpler
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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