U.S. crude output and petroleum demand to rise in 2022 - EIA
Reuters
Published Dec 06, 2022 12:26PM ET
Updated Dec 06, 2022 12:47PM ET
HOUSTON (Reuters) -The U.S. Energy Information Administration on Tuesday raised its forecast for this year's crude output growth marginally, while petroleum demand is likely to rise less than previously expected.
EIA projected that crude production would rise to 11.87 million barrels per day (bpd) in 2022, compared with its previous estimate of 11.83 million bpd.
Petroleum and other liquid fuels consumption would rise to 20.36 million bpd in 2022, lower than the prior forecast of 20.38 million bpd.
For 2023, EIA projected that crude production would rise to 12.34 million bpd. That compares with a record 12.29 million bpd in 2019.
Petroleum and other liquid fuels consumption is expected to rise to 20.51 million bpd, from a previous estimate of 20.48 million bpd.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.