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EIA boosts US oil output forecasts

EIA sees 12.76m bpd this year vs 12.56m bpd priorSees 13.09m bpd next year vs 12.85m bpd priorLowers 2024 world oil demand forecast by 30,000 bpd, which is a 1.61m bpd increase2023 world oil demand growth unchanged at 1.76 mbpdThey see brent prices averaging $86 in 2024Full reportWorld oil demand continues to grow, but so does US oil production. In any case, oil has bounced from a $2 loss to just $0.48 despite the poor risk backdrop.I'm curious of where this US oil output increase will come from... Read More

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Posted: Aug 8 2023, 16:09

Author Name: forexlive

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