According to the EIA, U.S. crude oil production averaged 12.1 million barrels per day (b/d) last week, down by 100,000 b/d from the previous week and up by about 1.2 million b/d year on year.
This was the second week that the U.S. crude oil production decreased after increasing for three consecutive weeks.
In its latest Short-Term Energy Outlook (STEO) released earlier this month, EIA forecast annual U.S. crude oil production to increase by 1.4 million b/d in 2019 and by 0.9 million b/d in 2020, with 2020 production averaging 13.3 million b/d.
The EIA also forecast Brent spot prices will average 67 U.S. dollars per barrel in 2019 and remain at 67 dollars per barrel in 2020.
EIA's lower 2019 Brent price path reflects rising uncertainty due to trade tensions and geopolitical factors.
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