EIA Raises US Oil Production and Demand Forecast in 2023
Recently, the US Energy Information Administration (EIA) raised its forecast for the growth of crude oil production and oil consumption this year.
EIA estimates that the crude oil production of the United States will increase by 550000 barrels per day to 12.41 million barrels per day in 2023, compared with 470000 barrels per day previously expected. US crude oil production is expected to increase by 400000 barrels per day to 12.81 million barrels per day in 2024. The consumption of oil and other liquid fuels in the United States is expected to increase by 170000 barrels per day to 20.44 million barrels per day in 2023, up from 150000 barrels per day. The EIA also predicts that the consumption of oil and other liquid fuels in the United States will increase by another 190000 barrels per day to 20.63 million barrels per day in 2024.
In addition, the EIA has raised the growth forecast of global oil demand in 2023 by 50000 barrels per day compared with the previous one, and is currently expected to increase by 1.05 million barrels per day year on year.
You May Interested In
Glow70/KLOW80 99% China Peptides Warehouse Direct Delivery Lyophilized Powder in Stock
$1.8E+2/UNIT FOB
Best Price Glow70 High Purity 99% Custom Peptide Scientifically Formulated for Skin Radiance and Tissue Repair
$5E+1/UNIT FOB
2026-08-31
Trade Alert
Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)
Related News
-
U.S.-Iran Détente Triggers Oil Price Plunge, Energy and Chemical Sectors Tumble
-
DKSH Expands Distribution Partnership with Kahai in North America
-
Price increase! Raw materials soared 10%, price letter to the factory in advance!
-
EIA: The global oil supply landscape is changing
-
Nearly 200 billion dollars! The five oil giants made record profits last year
-
BP increases investment in oil and gas in the United States
-
Eu evaluates the safety and effectiveness of ferulic oil as a feed additive for dogs and cats
-
What is cinnamon leaf oil composition and its use?
-
The trend of the international oil market is unpredictable
-
The value added of chemical raw materials and products manufacturing rose 12.1 per cent in September from a year earlier
Recommend Reading
-
![China’s Agrochemical Role Expands as Global Supply Risks Intensify]()
China’s Agrochemical Role Expands as Global Supply Risks Intensify
-
![Lilly’s U.S. API Investment Highlights a New Phase of Pharma Supply Localization]()
Lilly’s U.S. API Investment Highlights a New Phase of Pharma Supply Localization
-
![China’s Agrochemical Role Expands as Global Supply Risks Intensify]()
China’s Agrochemical Role Expands as Global Supply Risks Intensify
-
![$25 Billion Paint Giant Born: AkzoNobel and Axalta Shareholders Approve Merger by Landslide]()
$25 Billion Paint Giant Born: AkzoNobel and Axalta Shareholders Approve Merger by Landslide
-
![ContextLogic Acquires gChem for $850 Million in Major Specialty Chemicals Deal]()
ContextLogic Acquires gChem for $850 Million in Major Specialty Chemicals Deal
-
![Cost Support and Tightening Supply Fuel March Toluene Market Rally]()
Cost Support and Tightening Supply Fuel March Toluene Market Rally
-
![This Week's Aniline Market Stabilizes in China (5.4-5.8)]()
This Week's Aniline Market Stabilizes in China (5.4-5.8)
-
![Weak Supply and Demand Weigh Down Formic Acid Prices]()
Weak Supply and Demand Weigh Down Formic Acid Prices
-
![Ammonium Sulfate Market Shows Strong Increase (1.5-1.12)]()
Ammonium Sulfate Market Shows Strong Increase (1.5-1.12)
-
![Urea market prices fluctuated and rose in March in China]()
Urea market prices fluctuated and rose in March in China
