The EIA has released their latest Short-Term Energy Outlook . Below I compare the EIA’s ever changing outlook for future oil production. The STEO charts below are total liquids and are in million barrels per day. STEO April The EIA increased their December 2014 all liquids estimate but dramatically decreased their January 2015 estimate. The EIA now says US total liquids production declined by 480,000 barrels per day in January. STEO April NO The EIA still believes non-OPEC total liquids production will take off but not until 2016. They have non-OPEC liquids reaching a new high in December but dropping almost one million barrels per day in January and not reaching that December high again until July of 2016. STEO April NO Less US The EIA’s optimism depends entirely on US production increase returning to the levels it reached in the last three years. Without any US increase they […]