US EIA now sees stronger oil production growth in 2024 ...Middle East

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US EIA now sees stronger oil production growth in 2024
Everyone in the oil market wants discipline in US shale but at $78/barrel there is still plenty of money to be made that is keeping the taps running.The EIA now sees US crude production up 260k bpd in 2024 compared to a rise of 170k bpd in the previous forecast. That 90k increase isn't particularly meaningful in a global context but it's another headache for oil. To be sure, the pace of US production growth is slowing and the shale treadmill is relentless but I don't see any signs of a cliff.US production will be 13.19 million barrels per day this year, the EIA predicts. That's the most any country has ever produced but they now forecast it will rise to 13.65 mbpd in 2025. Another 460k bpd n

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