US Oil Production Still Treading Water The EIA released their report of crude oil production by state yesterday, updating the data to end of Jan '22. Production was pretty flat with Jan '22 (11371 kbpd) being slightly less than Dec '21. (11,587 kbpd). US crude Production now is about the same as it was in April and May of 2021 (around 11,300 kbpd). So in spite of the oil price run up over the past year, the oil supply is about the same. I understand from different sources that US shale oil producers face geological, logistical and other headwinds that keep them from increasing production... at least so far.
So, all of the analysts that keep telling us how US shale oil is about to unleash a torrent of new supply... they have not looked very deep into the upstream situation IMO.