EIA STEO: 2023 world oil demand growth forecast cut by 300k BPD (M/M) to a 1.46mln BPD Y/Y increase, 2024 forecast raised by 80k BPD to a 1.40mln BPD Y/Y increase
Important
SourceNewsquawk
SectionEnergy & Power
- Cuts 2023 US dry natural gas production view at 103.68 BCF/D from 103.72 BCF/D; Cuts 2024 US dry natural gas production view to 105.12 BCF/D from 105.13 BCF/D.
- Raises 2023 US natural gas consumption view to 89.42 BCF/D from 89.17 BCF/D; Raises 2024 US natural gas consumption view to 89.00 BCF/D from 88.38 BCF/D.
- Cuts 2023 US crude oil production growth view to 990k BPD (prev. 1.01mln BPD) to total production of 12.9mln BPD.
- Raises 2024 US crude oil production growth view to 250k BPD (prev. 200k BPD) to total production of 13.15mln BPD.
- Cuts 2023 OPEC surplus crude oil production capacity view to 3.7mln BPD from 4.1mln BPD.
- Cuts 2024 OPEC surplus crude oil production capacity view to 4.3mln BPD from 4.9mln BPD.