US Department of Energy lowers forecast for oil production in the country

3/11/2020, 2:28:36 PM

The US Department of Energy expects a decrease in oil production in the country in 2020 by 210 thousand barrels per day - up to 12.99 million barrels per day. In February, the forecast was 13.2 million barrels per day.

This is evidenced by the monthly short-term forecast of the Energy Information Administration of the US Department of Energy.

For 2021, the forecast was 12.66 million barrels. In 2019, production amounted to 12.23 million barrels per day.

Earlier, the US Department of Energy said that Washington intends to confront the instability caused by attempts by other states to "manipulate the oil markets."

On March 9, oil prices fell more than 30% after the OPEC + meeting, which culminated in Russia's withdrawal from the deal.