EIA STEO (May): 2023 world oil demand growth forecast raised by 120k BPD to 1.56mln BPD Y/Y increase, 2024 forecast cut by 130k BPD to a 1.72mln BPD Y/Y increase
- 2023 US crude output to rise 640k BPD to 12.53mln BPD (prev. rise of 660k BPD forecast last month).
- 2024 US crude output to rise 160k BPD to 12.69mln BPD (prev. rise of 210k BPD).
- 2023 US total petroleum consumption to rise 200k BPD to 20.5mln BPD (prev. rise of 100k BPD).
- 2024 US total petroleum consumption to rise 300k BPD to 20.8mln BPD (prev. rise of 300k BPD).
- Expects retail gasoline prices to average roughly USD 3.40/gallon during summer 2023, 20% decrease vs summer 2022.
09 May 2023 - 17:02- EnergyImportant- Source: Newswires
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