In its latest monthly report, the Energy Information Administration (EIA) announced that the total crude oil production in the U.S. was expected to increase by 1.36 million barrels per day, compared to 1.49 million bpd in the previous report, to 12.32 million bpd in 2019.
Key takeaways (via Reuters)
- U.S. gasoline demand to remain unchanged at 9.32 million bpd in 2019 (vs. down 10,000 bpd previously).
- U.S. gasoline demand to rise 30,000 bpd in 2020 to 9.35 mbpd (vs. 3,000 to 9.34 mbpd previously).
- U.S. distillate demand to remain flat at 4.13 mbpd in 2019 (vs. Rise 30,000 to 4.16 previously).
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