EIA lifts 2019 U.S. crude production forecast


The U.S. Energy Information Administration raised its 2019 forecast on U.S. crude-oil production, but left its view on output for this year unchanged, according to the agency’s July Short-term Energy Outlook report released Tuesday. The EIA sees 2019 domestic crude production at 11.8 million barrels per day, up 0.3% from the June forecast. It stood pat on expectations for 2018 output of 10.79 million barrels a day. The EIA also raised its 2018 view on West Texas Intermediate crude prices by 2.2% to $69.95 a barrel, and lifted its Brent price forecast for this year by 1.1% to $71.80 a barrel. August WTI crude
CLQ8, +0.04%
was down a penny at $73.84 a barrel. September Brent
LCOU8, +0.82%
rose 51 cents, or 0.7%, to $78.58.


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