Latest outlook from the EIA
- Leaves 2017 US crude output estimate at 9.33 mbpd
- Cuts 2018 estimate to 9.90mbpd from 10.01 mbpd
- Sees world oil demand up 1.47mbpd this year compared to 1.54 mbpd previously
- Lowers 2016 demand growth to 1.61 mbpd from 1.62 mbpd
Oil continues to truck higher.