- Industry and Energy
EIA: U.S. oil output to rise in 2020 more than previously expected
U.S. crude oil production is expected to rise by 1.06 million barrels per day (bpd) in 2020 to a record of 13.30 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, above its previous forecast for a rise of 930,000 bpd, APA reports citing Reuters.
The output in 2021 is forecast to rise by 410,000 bpd to 13.71 million bpd, according to the EIA.
“We forecast U.S. crude oil production will reach new records in 2020 and 2021, driven primarily by higher production in the Permian region of Texas and New Mexico,” EIA Administrator Linda Capuano said in a statement.
“Both global oil supply and consumption are expected to grow in 2020, with supply from non-OPEC producers, particularly the Unites States, Norway, Brazil, and Canada, more than offsetting declining production from OPEC.”
A shale boom has helped make the United States the world’s biggest oil producer, overtaking Saudi Arabia and Russia.
However, the rate of growth is expected to slow into next year as U.S. oil producers follow through on plans to slash spending on new drilling for a second year in a row in 2020.
In 2019, the oil rig count, an early indicator of future output, notched its first annual decline since 2016 as independent exploration and production companies cut spending on new drilling as shareholders seek better returns in a low energy price environment.
For 2020, the agency expects U.S. petroleum and other liquid fuels demand to climb 160,000 bpd to 20.64 million bpd in 2020, below its previous forecast for a rise of 170,000 bpd to 20.75 million bpd.
Demand is expected to rise 70,000 bpd to 20.71 million bpd in 2021, the EIA said.
Azerbaijan increased gas export through South Caucasus Pipeline by 15% last month
apan minister apologises after woman who leaves ship tests positive for virus
China reports 648 new cases of coronavirus, but infections outside Hubei falling
China reports fewer coronavirus cases outside epicenter, cases surge in South Korea
U.S. national security adviser denies Russia boosting Trump reelection
Number of Coronavirus cases in Italy rises to 79
France's Macron: unclear if EU-Britain to have trade deal by year-end
President Ilham Aliyev completed state visit to Italy
President Ilham Aliyev and first lady Mehriban Aliyeva viewed Sistine Chapel and St. Peter's Basilica in Vatican
First Vice-President Mehriban Aliyeva awarded highest Papal Order of Knighthood in Vatican
'He would’ve done it for nothing': Trump claims his son could make better website than Obamacare
Two men shot, one dead, at cockfighting event in Los Angeles
Belgrade receives first batch of pantsir missile systems from Russia, says Serbian Defence Minister - UPDATED
Erdogan says to meet Putin, Merkel, Macron on March 5 over Idlib
Russian Foreign Ministry determined to protect biathletes from pressure
Russia hopes coronavirus epidemics to be taken under control by Tokyo Olympics
Chairman of Azerbaijani CEC: “Kurdamir Constituency Election Commission #57 can be dissolved”
Turkey monitors Iran border over virus fears
Army Command: "Syrian Air Defences to shoot down any aircraft violating country's airspace"
Turkish soldier killed in regime attack on Syria's Idlib
All-European Karabakh rally held in Berlin - UPDATED
Iraq, Iran to discuss joint measures against coronavirus threat, says Border Security Chief
Turkish President: "Road map drawn in Syria's Idlib"
Russian, Turkish defense ministers discuss stabilization in Idlib
Malaysia says American coronavirus case now tests negative for virus
Seven workers die as landslide hit marble mine in Pakistan's Buner
Employees of State Agency of Azerbaijan Automobile Roads awarded - LIST
President Ilham Aliyev sends congratulatory letter to Sultan of Brunei Darussalam
President Ilham Aliyev congratulates Estonian counterpart
Azerbaijani President sends congratulatory letter to Japan Emperor
President Ilham Aliyev met with Vatican Secretary of State Cardinal Pietro Parolin
President Ilham Aliyev met with Pope Francis in Vatican
Khyber Pukhtunkhwa Provincial Assembly of Pakistan adopts resolution on reaffirming respect to territorial integrity of Republic of Azerbaijan
Azerbaijan's CEC reviews appeals and complaints on elections
Coronavirus affects sport in Italy
Iran dismisses reports of limiting entry of Pakistanis due to coronavirus
Russian diplomats helped US citizens during Wuhan evacuation
US embarks on dangerous game simulating nuclear strike on Russia, says Russian diplomat
China reports fall in coronavirus cases, says economy resilient, but infections rising elsewhere
Household gas explosion in southern Russia kills two
Azerbaijan-Iran customs-border crossing stations equipped with extra 20 thermometers due to coronavirus danger
Health Ministry: “28 people infected with coronavirus in Iran”
Serviceman whose corpse was found on Azerbaijan-Armenia border laid to rest
Vehicle overturns to valley in Azerbaijan’s Lerik, including a child 2 people die - UPDATED
Professor Vildan Ertekin: "The most advisable way of protection from coronavirus is to wash frequently"
Turkish Airlines adds new tourism-focused int'l flights
Final results of Iran elections to be announced by Sunday
WHO concerned about coronavirus cases with no clear epidemiological link
Coronavirus kills two in Italy as the town of Lombardy is put on lockdown
Russian diplomats checking reports on searches of biathletes amid championships in Italy
Number of people died from coronavirus reaches 6 in Iran
14 years pass since establishment of the Ministry of Emergency Situations: They always come to your aid in any difficult moments - PHOTOSESSION - VIDEO
First Vice-President Mehriban Aliyeva attended opening ceremony of rebuilt Azerbaijan pavilion at Exhibition of Achievements of National Economy in Moscow - UPDATED
Open Doors Day and the military oath-taking ceremony were held on the occasion of the State Flag Day
An exhibition that also presents President Ilham Aliyev's photo opened in Moscow
Azerbaijani President and first lady inaugurated Koroglu Transport Exchange Center of Baku Transport Agency - UPDATED
Huawei says no impact to 5G supply from coronavirus
Head of China’s Wuhan hospital dies of coronavirus
Azerbaijani MES extinguishes the fire at "Sadarak" Shopping Centre in Baku - PHOTO - VIDEO - UPDATED-2
Death toll soars 11 after two shootings in Hanau, Germany - PHOTO - VIDEO - UPDATED
Russia suspends entry of Chinese nationals starting February 20