US Tight Oil Estimate and Projection to Dec 2019

New tight oil estimates were recently released by the EIA. The chart below compares estimates from Dec 2018 to May 2019, where the Dec 2018 estimate is that estimate with the most recent month estimated being Dec 2018 and likewise the May 2019 estimate has May 2019 as the most recent month estimated. The May 2019 estimate is fairly close to the April 2019 estimate with a slight downward revision of the April 2019 estimate from 7399 kb/d to 7368 kb/d, March 2019 was also revised lower by 10 kb/d from 7292 kb/d to 7282 kb/d. For May 2019 the most recent estimate is 7462 kb/d and if past history repeats this estimate may be revised lower next month.

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