EIA Forecasts Hampered By Global Supply UncertaintiesHira Shahnawaz Akhtar
The Energy Information Administration (EIA) recently released its short-term outlook for the month of February 2014 and has forecast that the global crude oil output will average 91.68 million barrels per day (bblpd) during 2014 while the number will grow to over 93 million bblpd in 2015. However, the EIA recognizes the limitation of its estimates as changing global political and geographical circumstances dictate the output and can mean significant variance between actual numbers and projections.
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