March 12, 2019 / 6:14 PM / 5 months ago

EIA cuts forecast for 2019 U.S. crude output growth

FILE PHOTO: Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs, New Mexico, U.S. on May 3, 2017. REUTERS/Ernest Scheyder

NEW YORK (Reuters) - U.S. crude oil production is expected to average 12.30 million barrels per day (bpd) in 2019, the U.S. Energy Information Administration (EIA) said on Tuesday, up 1.35 million bpd from the prior year, but growing more slowly than the agency’s previous forecast of a 1.45-million bpd rise.

The EIA forecast output in 2020 will rise by 730,000 bpd to 13.03 million bpd, a smaller increase than it previously estimated.

Reporting by Devika Krishna Kumar in New York; Editing by Leslie Adler

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