Oil - 2025-10-06
Date:
Tuesday, October 7, 2025
Summary:
For some reason the Department of Energy's data work continues despite the shutdown! It shows a downtick in Permian production, but overall US production moves to a new all-time high. And the DOE makes the first substantive improvement in its production forecast in the Trump era of "drill, baby, drill." In other news, China's crude consumption jumps back up to trend growth despite the much-vaunted proliferation of EVs.