The Energy Information Agency (EIA) cuts 2019/2020 oil demand

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EIA out with energy demand growth forecast

The Energy Information Agency (EIA) is out with oil demand estimates. They now see:

  • Cuts 2019 world oil demand by 160K BPD to 1.22M BPD YoY increase
  • Cuts 2020 world oil demand by 110K BPD to 1.42M BPD YoY increase
  • Sees US crude output rising 1.36M BPD in 2019 to 12.32M BPD (vs 1.49M BPD last month)
  • Sees us crude output rising 94K to 13.26M BPD in 2020 (from 93K BPD increase previously).

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