US Crude Output And Refining Projections Rise Further

Oil

US Crude Output And Refining Projections Rise FurtherUS crude oil production in 2017 is expected to increase by 490K b/d y-o-y to 9.35M b/d, up by 20K b/d from a July forecast, according to the US EIA’s August Short-Term Energy Outlook (STEO). In 2018, output is expected to rise to an unchanged 9.91M b/d, the highest on record.

Crude refinery throughput projections for this year were also edged up, with crude runs in 2017 set to grow by 320K b/d from 2016 to a record high of 16.52M b/d, 50K b/d higher than expected in the July STEO. In 2018, throughputs are forecast to average a marginally lower 16.49M b/d.