(Reuters) – U.S. oil demand and production is anticipated to grow more slowly than previously forecast for the rest of this 12 months and in 2023, the U.S. Energy Department said on Wednesday.
Overall U.S. demand for petroleum and other liquid fuels in 2023 is anticipated to rise slowly, the U.S. Energy Information Administration said, estimating growth at 190,000 barrels per day to twenty.54 million bpd. In September, the EIA expected that growth to are available at 350,000 bpd.
For this 12 months, demand is anticipated to rise by 460,000 barrels per day to twenty.35 bpd, also down from the previous forecast.
U.S. crude output is now expected to extend by 610,000 bpd in 2023 to 12.36 million bpd, which might still be essentially the most output, on average, for a 12 months, in U.S. history. Still, the EIA dropped its expectations from a gain of 840,000 bpd.
Output in 2022 is anticipated to average 11.75 million bpd, down from a previous estimate of 11.79 million bpd.
(Reporting By David Gaffen; Editing by David Gregorio)
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