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US oil output to rise to 13 million bpd in 2020

Gasoil News - Published on Fri, 18 Jan 2019

Image Source: Reuters
The United States has become the world's largest crude producer, boosted by output from shale formations, with production of nearly 11 million barrels in 2018, which broke the country's annual record set in 1970. Now, US Energy Information Administration in its first 2020 forecast said that US crude production is forecast to climb 1.14 million bpd to 12.07 million bpd in 2019 and an additional 790,000 bpd in 2020 to 12.86 million bpd.

The forecast indicates that the US will become a net crude exporter in late 2020.

US demand for diesel and other distillate fuels is expected to rise 20,000 bpd to 4.15 million bpd in 2019 and to rise to 4.19 million in 2020

US gasoline demand in 2018 was seen at 9.29 million bpd, down from 9.31 million bpd previously. Gasoline demand is expected to rise to 9.35 million bpd in 2019 and to hold that level in 2020.

Source :

Posted By : Joykumar Irom on Fri, 18 Jan 2019
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