The Brent oil price eroded last night to $53.39 as I write, down a half percent. Everyone is watching shale to see where production heads next and the EIA is feeling the heat, from the WSJ:
The next monthly oil report, which will include data through May, is due Friday. Traders will be watching to see whether April, in fact, marked a peak in output.
The EIA received approval last year to survey companies in the largest producing states and plans to release more-detailed production data later this summer.