US EIA STEO: Cuts forecast for 2023 world oil demand by 320k BPD and now sees 1.16mln BPD Y/Y increase; raises 2022 forecast by 140k BPD to 2.26mln BPD Y/Y

• US crude output to rise 580k BPD to 11.83mln BPD in 2022 (prev. forecast last month rise of 500k BPD).
• US crude output to rise 480k BPD to 12.31mln BPD in 2023 (prev. rise of 610k BPD).
• US total petroleum consumption to rise 490k BPD to 20.38mln BPD in 2022 (prev. rise of 460k BPD).
• US petroleum demand to rise 100k BPD to 20.48mln BPD in 2023 (prev. rise of 190k BPD).

Full details available via EIA