EIA forecasts global oil supply to increase and per capita gasoline consumption to fall in 2024

The U.S. Energy Information Administration (EIA) expects global liquid fuels production to increase by 1.0 million barrels per day next year. We expect OPEC+ production cuts will remain in place through the end of 2024 and offset non-OPEC production growth. EIA expects a slight decline in global oil inventories in early 2024.The U.S. Energy Information Administration (EIA) expects global liquid fuels production to increase by 1.0 million barrels per day next year. We expect OPEC+ production cuts will remain in place through the end of 2024 and offset non-OPEC production growth. EIA expects a slight decline in global oil inventories in early 2024. Read More