EIA report on supply and demand in the US oil market

  • US crude output to fall 230,000 BPD (was 290,000 last month) to 11.08M BPD in 2021
  • US crude output to rise 710,000 BPD to 11.79M in 2022 vs 820,000 BPD last month

Looking at demand:

  • US petroleum demand to rise 1.49M BPD to 19.61M BPD in 2021 vs 1.39M last month.
  • US petroleum demand to rise 1M BPD to 20.61 M BPD in 2022. That was at 1.02M last month