US Output Falls 550,000 B/D From Peak, Gives Succor To Saudi Policy

Latest US crude output data show that volumes have been falling further and faster than had previously been thought.

The latest Short Term Energy Outlook (STEO) of the US government’s Energy Information Administration (EIA), released 9 September, pegged August crude output at 140,000 b/d below July levels.

Coming on the back of downward revisions to recent historical data, this implies August output of 9.06mn...