The US Energy Information Administration said, on Tuesday, in its short-term energy outlook: “The US production of crude oil will rise more than expected, and the increases in demand will fall below previous expectations this year.”
The administration currently expects US crude production to rise by 720 thousand barrels per day to 12.61 million this year, compared to previous expectations of an increase of 640 thousand.
Total US oil consumption will rise by just 100,000 barrels per day to 20.4 million this year, compared to an increase of about 200,000 in the administration’s forecast for May. (Reuters)
2023-06-06 17:24:39
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