United States curing oil production it is expected to rise by 720,000 barrels per day (bpd), down from 730,000 in the previous forecast, in 2022 to 11.91 million bpd, said the United States Energy Information Administration (EIA) in your monthly report.
Main data, via Reuters
US crude oil production will increase by 860,000 bpd to 12.77 million bpd in 2023 (versus a 1.05 million bpd increase forecast last month).
Total US oil consumption will increase by 700,000 bpd to 20.48 million bpd in 2022 (vs. 750,000 bpd increase forecast last month).
US oil demand to rise by 320,000 bpd to 20.8 million bpd in 2023 (vs. 200,000 bpd increase last month) – eia.
market reaction
Oil prices are still trading in negative territory after this report, with the barrel of West Texas Intermediate (WTI) shedding 6.7% on the day at $96.50.
Source: Fx Street
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