U.S. Energy Information Administration (EIA) lowers its oil output forecasts for 2015 and 2016

Market news

10 September 2015

U.S. Energy Information Administration (EIA) lowers its oil output forecasts for 2015 and 2016

The U.S. Energy Information Administration (EIA) lowered its oil output forecasts for 2015 and 2016. Oil output in the U.S. is expected to be 9.2 million barrels a day this year and 8.8 million barrels a day in 2016.

Oil price forecasts were also cut. The WTI crude oil price is expected to be $53.57 a barrel in 2016, down 1.6% from its previous estimate, while the Brent crude oil price is expected to be $58.57 a barrel in 2016, down 1.4% from the previous forecast.

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