IEA Sees Oil Glut Falling in 2H

The video discusses the factors influencing the oil market, including the US shale boom's decline, Iran's slower production increase, strong US gasoline demand, and the Doha talks involving Saudi Arabia and Russia. It highlights the potential impact of these factors on oil production, projecting a decrease in US shale output from 9.2 million to 8 million barrels per day by the end of the year. The Energy Information Administration's report suggests that a combination of these factors could lead to a balanced market by early 2017.

What was the US oil production at the beginning of the year compared to the end of the year?

What consensus is forming regarding the oil market by the beginning of 2017?