Europe's Gas Crisis Eases Slightly

1. US Crude Supply to Hit Pre-Pandemic Levels by 2023- The US Energy Information Administration (EIA) revised its outlook for US crude supply marginally downwards, now expecting output to rise by 640,000 b/d year-on-year to a total of 11.8 million b/d. - At the same time, the EIA increased its pricing outlook for this year, now expecting the annual Brent average to come in at 74.

95 per barrel, with WTI at 71.32 per barrel for 2022. - This would mean that despite the overall conducive environment, the US will return to its pre-pandemic supply levels…