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U.S. raises crude output forecast for 2019 – EIA


NEW YORK, July 10 (Reuters) – U.S. crude oil production is expected to average 11.80 million barrels per day in 2019, an increase of 40,000 bpd from a previous forecast, the U.S. Energy Information Administration said in a monthly report on Tuesday.

U.S. crude production this year is expected to be 10.79 million bpd, unchanged from last month’s forecast, according to the agency, which is the statistical arm of the U.S. Department of Energy.

Total U.S. oil demand is expected to be 20.35 million bpd this year, 60,000 bpd less than previously forecast.

Reporting By Jessica Resnick-Ault Editing by Marguerita Choy

 



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