Andy Hall: U.S. Shale Output is 'The Great Imponderable'

The video discusses the discrepancies between EIA forecasts and actual oil production, highlighting the challenges faced by traders due to data lags and revisions. It explores the impact of real-time data on market predictions and the price elasticity of oil supply and demand. The discussion also covers the influence of global markets like OPEC and China on U.S. shale production decisions.

What role does real-time data play in making predictions about the oil market?

How do OPEC decisions impact shale production and oil prices?

What factors contribute to the difficulty in forecasting future oil supply and demand?