EIA Monthly Crude Oil and Natural Gas Production Through February 2025
US Crude Oil Production Remains Overstated
EIA Monthly Crude Oil and Natural Gas Production Through February 2025
Summary
The US EIA continues to overcount US crude oil production in the weekly petroleum supply report
Crude
The EIA-914 and Petroleum Supply Monthly were released this week, highlighting that WPSR continues to overcount crude oil production by a significant margin.
This February data point directly contradicts the energy analysts that declared the January production decline was anomalous, driven by inclement. In fact, the EIA revised January data lower this month.
US production is not growing.
The EIA STEO model needs to be updated to more accurately reflect field data. Until this occurs, the EIA continues to over-report the amount of US crude oil in storage.