EIA cuts world oil demand growth by 100K BPD

Cuts 2019 will demand growth by 50 K

The EIA is out with world /US oil demand and production forecasts
  • cuts forecast for 2020 world oil demand growth by 100 K BPD,.
  • Sees 1.3 million BPD increase in 2020
  • cuts forecast for 2019 world oil demand growth by 50 K BPD.
  • Sees 0.84 million BPD year on year increase
  • projects US crude output to rise 1.27 million BPD to 12.26M BPD in 2019 (versus 1.25M BPD increasing forecast last month)
  • sees US crude output to rise 910K BPD to 13.17M BPD in 2020 (vs rise to13.23M BPD forecast last month)
  • US petroleum and other liquid fuel demands to rise 40K BPD to 20.54M BPD in 2019 (vs 140K BPD increase forecast last month)
  • US petroleum and other liquid fuels demand to rise 220K BPD to 20.76 M BPD in 2020 (versus increase to 20.85M BPD forecast last month).