I am starting this post off with a news article because it explains why JODI has U.S. production numbers wrong for July. No, U.S. Oil Production Probably Didn’t Rise in July The Joint Organizations Data Initiative (JODI) releases monthly oil supply-and-demand data for about 80 countries, which it gathers by directly surveying the countries. It is widely cited by analysts, especially for its figures on demand, imports and exports. The latest JODI data released Sunday showed that U.S. crude-oil production rose from 9.3 million barrels a day in June to 9.5 million barrels in July. But the EIA’s latest forecast called for July production to fall to 9.2 million barrels a day in July , continuing the trend of declining U.S. production as companies cut spending in the face of low prices. For the charts below I have used JODI data for all Non-OPEC nations except those that do […]