EIA Aligning With Our Bearish 2018 Crude Forecast
In its latest short-term energy outlook, the U.S. Energy Information Administration increased its 2018 domestic crude production forecast by 0.3 million barrels per day to 10.3 mmbpd. The revision brings the organization closer to our own 2018 forecast of 10.6 mmbpd--a level that could severely erode the effectiveness of OPEC’s production cuts and push crude markets back into oversupply during the second half of the year. This scenario does not appear to be baked into consensus forecasts yet (or...Continental Resources is an independent crude oil and natural gas company engaged in the exploration, development, and production of crude oil and natural gas mainly in the North, South and East regions of the U.S. The North region consists of properties north of Kansas and west of the Mississippi River and includes North Dakota Bakken, Montana Bakken, and the Red River units. The South region includes all properties south of Nebraska and west of the Mississippi River including various plays in the South Central Oklahoma Oil Province and Sooner Trend Anadarko Canadian Kingfisher areas of Oklahoma. The East region is comprised of undeveloped leasehold acreage east of the Mississippi River.
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