4/6, 6:53 PM (Source: TeleTrader)
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US crude oil production to fall to 11.4M bpd in 2021 - EIA

The United States Department of Energy's Energy Information Administration (EIA) estimated on Tuesday the country's crude oil production would decrease by 270,000 barrels per day in comparison to 2020 to 11.4 million barrels per day in 2021, which would be a sharper decline to the previously predicted 160,000 barrels per day.

The EIA forecast the country's demand for petroleum and other liquid fuels would increase by 1.32 million barrels per day to 19.44 million barrels per day, slightly less than how it initially projected.

Meanwhile, world oil demand to grow by 180,000 barrels per day to 5.50 million barrels per day, the EIA predicted.

Breaking the News / JR