EIA: 2017 U.S. crude oil production to rise by 380,000 bpd (vs 370,000 bpd gain previously)

Eren Sengezer FXStreet

Reporting its monthly short-term energy outlook, the Energy Information Administration said that it was forecasting the U.S. crude oil output to rise by 780,000 barrels per day (bpd) to 10.02 million bpd in 2018.

Key highlights (via Reuters)

2018 U.S. crude oil production to rise by 780,000 bpd (vs 720,000 bpd gain previously).

2017 U.S. oil demand growth unchanged at 160,000 bpd.

2018 U.S. oil demand growth unchanged at 410,000 bpd

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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