According to the Department of Energy (DOE), U.S. oil production and global stocks are expected to advance at 2019 to 2020. The data are from the report on the short-term perspective carried out by the organ.
The department predicts that U.S. oil production stays at 12.4 million barrels per day (bpd) on average even this year, and in 13.3 million bpd in 2020, with most of it coming from the Permian region, Texas and New Mexico.
Already global oil stocks, should increase 100,000 bpd in 2019 and also advance 100,000 bpd in 2020. The body further estimates that global demand increases 1.1 million bpd this year, 200,000 barrels of oil per day less than expected in June. In 2020, the forecast is that the growth in demand is about 1.4 million bpd.
The price of the American WTI barrel should be around US $62 in the 2nd half of 2019 and at US $63 in 2020. The English barrel Brent should be averaged at US $67 in the second half of 2019 and in US $63 in 2020.
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