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Signs of recovering demand boosts prices for US crudes Sheela Tobben, Bloomberg FacebookTwitterEmail The U.S. government lowered its crude oil output forecast for this year to 11.34 million barrels a day from last month’s estimate of 11.39 million barrels a day. That figure implies a nearly 1 million barrel decline in output compared with 2019. The Energy Information Administration expects output to drop to 11.1 million barrels a day in 2021.The Oilfield Photographer Inc./The Oilfield Photographer, Inc. (Bloomberg) Signs of tighter production and recovering demand are boosting prices for U.S. physical crudes. The U.S. government lowered its crude oil output forecast for this year to 11.34 million barrels a day from last month’s estimate of 11.39 million barrels a day. That figure implies a nearly 1 million barrel decline in output compared with 2019. The Energy Information Administration expects output to drop to 11.1 million barrels a day in 2021. ....
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