EIA crude and patrolling forecasts for the current month released
- US crude oil output to fall 910K BPD to 11.34 million BPD in 2020 vs 860K forecast last month
- US output to fall 240K BPD to 11.10M BPD in 2021 vs -290K forecast last month
- Petroleum demand to fall 2.38M BPD to 18.16M BPD in 2020 which is unchanged from previous forecast
- US petroleum demand to rise 1.63M BPD to 19.79M BPD in 2021. The previous forecast was for a rise of 1.69M BPD.
The price of WTI crude oil futures are currently trading down $0.18 or -0.39% at $45.57
