Nomura estimates strong growth in US output in the second half of 2017, as the impacts of additional rigs, megapads, and other offshore projects are felt. New projections are up to 800 thousand barrels per day from previous estimate of 600 on November 15. The outlook assumes OPEC compliance to extend cuts into 2018.
A pumpjack brings oil to the surface in the Monterey Shale, California, U.S. April 29, 2013. Photo: Reuters, Lucy Nicholson
Nomura raises US oil production estimates for 2017
New projections see two thirds of growth in second half