NEW YORK (Reuters) – U.S. oil production in 2020 is expected to drop 800,000 bpd to 11.45 million bpd, the US Energy Information Administration (EIA) said Tuesday. This figure is lower than previous forecasts of the agency, which previously expected a drop of 870,000 barrels per day.
The EIA expects U.S. oil and other liquid fuel consumption to decline 2.31 million barrels per day to 18.23 million barrels per day in 2020. Previous forecasts provided for a fall of 2.12 million barrels per day.
(Devika Krishna Kumar in New York. Translated by Olga Beskrovnova. Editor Marina Bobrova)