The June Short-Term Energy Outlook(STEO)remains subject to heightened levels of uncertainty related to the ongoing economic recovery from the COVID-19 pandemic.The U.S.economy continues to rise after reaching multiyear lows in the second quarter of 2020(2Q20).The increase in economic activity and easing of the COVID-19 pandemic have contributed to rising energy use.U.S.gross domestic product(GDP)declined by 3.5% in 2020 from 2019 levels.This STEO assumes U.S.GDP will grow by 6.7% in 2021 and by 4.9% in 2022.The U.S.mac-roeconomic assumptions in this outlook are based on forecasts by IHS Markit.Our forecast assumes continuing economic growth and increasing mobility as a result of the easing of the COVID-19 pandemic.Any developments that would cause deviations from these assumptions would likely cause energy consumption and prices to deviate from our forecast.
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