The International Energy Agency (IEA) downgraded its forecast for US oil production in 2021 and now expects it to decrease by 160,000 barrels per day year-on-year
MOSCOW (Pakistan Point News / Sputnik - 12th May, 2021) The International Energy Agency (IEA) downgraded its forecast for US oil production in 2021 and now expects it to decrease by 160,000 barrels per day year-on-year.
"US total output is expected to rise very modestly over the rest of 2021, but for the year as a whole production will average 16.4mb/d, 160 kb/d below 2020," IEA said in its fresh oil market report, released on Wednesday.
In its previous report, IEA said US oil production was expected to decline by 100,000 barrels per day compared to 2020.
