EIA sees US crude oil production rising to 12 mbpd in 2022

The latest forecasts from the US Energy Information Administration

The latest forecasts from the US Energy Information Administration
The EIA sees US crude production at 12.02 mbpd in 2022 compared to its forecast of 11.53 mbpd a month ago. That’s a reaction to higher prices.
This year’s production is less-sensitive at 11.15 mbpd vs 11.02 mbpd previously.
On the comsumption side, EIA forecasts that global consumption of petroleum and liquid fuels will average 97.5 million b/d for all of 2021 (-60k bpd), which is up by 5.3 million b/d from 2020. EIA forecasts that consumption will increase by another 3.8 million b/d in 2022 to average 101.3 million b/d (+330k bpd).
WTI crude is down 91-cents to $64.16 today.