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US 2019 crude output to rise by 300mbpd


The US energy information adminstration expects US crude oil production in 2019 to rise by 300,000 barrels per day year-on-year,according to its monthly short term energy outlook released on Tuesday.
The agency said that crude production will rise to 9.3 million bpd next year from 9 million bpd in 2017.It revised its 2017 US crude output figure to rise by 110,000 bpd from last month's forecast of a 80,000 bpd year-over-year decline.For 2017,demand is forecasted to grow by 260,000 bpd compared to 240,000 bpd growth forecast previously.