RE:EIA Report
Can`t believe that they have production up 200,000 bls/d... This never ends and this organization with that estimate seems to be more and more a propaganda machine for the U.S. administration.
Dan Brouillette or deputy energy secretary mentioned the following in July:
"The U.S. will maintain its oil production — or even ramp it up higher — despite low energy prices and slowing economic growth,..."
https://www.cnbc.com/2019/06/12/us-deputy-energy-secretary-dan-brouillette-on-us-oil-and-natural-gas.html
So no matter what or lower demand and lower prices, the U.S. will produce more...
Companies are not that stupid since the U.S. is still a free market. However, I suspect that this guy along with Perry play the game to keep this image of supply growth intact to help Trump with re-election and keep oil price low. They definitely have a vested interest to keep estimates higher than actuals and it was around 500,000 bls/d in July which is not a small error!