EIA oil demand forecasts
The EIA is out with its demand and output forecasts
- EIA cuts forecast for 2019 world oil demand growth by 90,000 BPD. Now sees 0.75 million BPD year on year increase
- the EIA raises forecast for 2020 world oil demand growth by 70,000 BPD. Now sees 1.37 million BPD year on year increase
- US crude output to rise 1.3 million BPD to 12.20 million in 2019 (vs 1.27M increase last month)
- US crude output to rise 1 million barrels per day to 13.29 million barrels per day in 2020 (vs rise to 13.17 million BPD in the forecast last month).
- US crude production to exceed average of 13 million barrels per day in 4th quarter 2019
