EIA: U.S. crude oil production this year will fall more than previously predicted

China Petrochemical News Network reported on May 11, 2021.

Due to the rebound in oil prices, drilling activities by US oil producers have gradually increased, but as investors have put pressure on companies to control spending and focus on returns, all US oil production growth has been weak.

In 2022, U.

EIA stated in its monthly forecast: “Since we expect the average price of West Texas Intermediate crude oil to remain above US$55 per barrel, we expect producers to drill and complete enough wells in the coming months.

According to EIA, the daily consumption of oil and other liquid fuels in the United States is expected to increase by 1.

EIA predicts that from April to September this year, the daily gasoline consumption in the United States will average close to 9 million barrels, 1.

In 2022, U.

Li Jun compiled from hydrocarbon processing

The original text is as follows:

　　US crude output to decline more than previously forecast in 2021

　　US crude oil production is expected to fall by 290,000 barrels per day (bpd) in 2021 to 11.

　　US oil producers have been gradually increasing drilling activity as oil prices have rebounded but output growth has been muted as investors pressure companies to rein in spending and focus on returns.

　　In 2022, output is expected to rise by 820,000 bpd to 11.

　　"Because the average price of West Texas Intermediate crude oil remains above $55 per barrel in our forecast, we expect producers will drill and complete enough wells in the coming months to offset declines at existing wells," the agency said in a monthly forecast.

　　The EIA said it expects US petroleum and other liquid fuel consumption to rise 1.

　　The agency expects that gasoline consumption in the United States will average almost 9 million bpd this summer, between April and September, which is 1.

　　For 2022, US consumption is forecast to rise 1.