Forecasts from the US EIA

  • Sees 2019 demand up 1.54 mbpd, 20K bpd higher than prior forecast

  • Sees 2020 demand up 1.53 mbpd from 2019

  • Sees 2020 demand at 103.07 mbpd

  • Sees 2019 US production at 12.07 mbpd from 12.06 in prior forecast

  • 2020 US output forecast at 12.86 mbpd

That's a marginal increase and I suspect it includes some fairly-rosy China demand estimates that are going to be tough to match if Chinese data continues to disappoint.