7 December 2022 | Other

U.S. crude production and demand will rise this year and next

The U.S. Energy Information Administration's (EIA) outlook for crude output growth in the current year has been marginally raised. At the same time, the growth in petroleum demand, apparently, will be less than originally anticipated.

According to the EIA forecast, in 2022, crude production in the United States will reach 11.87 million barrels per day (bpd). Earlier it was expected that this figure would be 11.83 million bpd.

In addition, the consumption of petroleum and other types of liquid fuels is expected to reach 20.36 million bpd in 2022. This value is less than the previous estimate of 20.38 million bpd.

As for 2023, crude production in the United States would increase to 12.34 million barrels per day, according to the EIA. This figure can be compared with a record mark of 2019, when production was 12.29 million bpd.

The consumption of petroleum and other types of liquid fuels would increase to 20.51 million barrels per day next year. The earlier forecast assumed production of 20.48 million bpd.

Company MarketCheese
Period: 29.06.2026 Expectation: 730 pips
Invest in AUDCAD with 0.99500 target
Yesterday at 11:28 AM 32
Period: 05.06.2026 Expectation: 1525 pips
GBPUSD may find its footing as selling storm subsides
Yesterday at 11:07 AM 25
Brent sell
Period: 05.06.2026 Expectation: 700 pips
Brent crude loses ground amid looming US-Iran peace deal
Yesterday at 11:05 AM 21
Period: 29.06.2026 Expectation: 1650 pips
Buying USDCAD with 1.39500 in view
Yesterday at 10:45 AM 16
Gold sell
Period: 28.06.2026 Expectation: 400 pips
Selling gold upon breaking below support
28 May 2026 103
Period: 31.08.2026 Expectation: 5000 pips
Invest in USDJPY from 155.00
28 May 2026 39
Go to forecasts