EIA lowers US oil production forecasts for 2015-2016
The EIA reportedly cut their forecasts for 2015 oil production in the US to 530,000 barrels per day (bpd), down from a previous estimate of 550,000 bpd. For 2016, the agency revised its expectations for production growth to 20,000 bpd from 80,000 bpd.
Meanwhile, the EIA raised its forecasts for US oil demand growth in 2015 to 340,000 bpd from 330,000 bpd in last month. However, it lowered its demand growth forecast for 2016 to 70,000 bpd from 90,000 bpd.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe
- China’s local PP, PE markets snap nine-week rally
- Turnarounds keep PP supply tight in SE Asia
- European PP market sees step backs from initial July offers
- Focus turns to August in Turkey: PP and PE players sidelined amid blurry outlook
- SEA PE uptrend intact, yet increases capped by reduced demand