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U.S. Crude Oil Production To See Zero Growth This Year: EIA

U.S. crude oil production fell in January and isn’t expected to grow at all this year, the EIA said on Tuesday in its latest Short Term Energy Outlook. The Agency also lowered its U.S. oil demand forecast to 20.39 million barrels per day from its previous forecast of 20.45 million barrels per day. The cold snap that hit parts of the United States in January took crude oil production offline, causing daily production to fall to just 12.

6 million barrels per day—down from 13.3 million bpd, the EIA said. And while the EIA expects U.S.…

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