United States change oil forecast for 2018

Baku. 13 September. REPORT.AZ/ Oil production growth rate in the United States will slow down in 2018 and make $ 9.84 mln bpd. 

Report informs citing the Forexpf.ru, says the September report of the U.S. Department of Energy on forecast of oil market in 2018. Notably, in August forecast, output predicted to be $ 9.91 mln bpd in 2018.

In addition, the forecast for oil demand in 2018 has dropped by 70,000 bpd to 99.95 mln bpd. World oil production forecast up from 100.21 mln bpd up to 100.28 mln bpd.

Notably, active oil rig count in the US decreased during last 3 weeks out of 4.Oil production from February to date for first time declined below 9 mln bpd. This happened after hurricanes in the United States.The U.S. Department of Energy, for this reason, average daily oil production forecast for the country by 2017 decreased from 9.35 mln bpd to 9.25 mln bpd.

The ministry reduced the WTI oil price forecast from $ 48.88 per barrel to $ 48.83 per barrel for 2018, while the Brent oil price forecast kept at $ 51.58/barrel.