US CRUDE output is forecast to rise by 600,000 barrels per day this year and return to pre-pandemic levels by 2023, according to forecasts from the Energy Information Administration, in a move that will see increased demand for tankers to ship crude to key buyers in Europe and Asia. Production will rise to 11.8m bpd this year, and a further 600,000 bpd in 2023, to reach 12.4m bpd and exceed 2019's record of 12.3m bpd, the EIA said. It forecast exports of liquefied natural gas to be 11.5bn cu ft in 2022 and 12.1bn cu ft in 2023, as the US surpasses Qatar and Australia to become the largest shipper of the supercooled energy commodity. These are the EIA's first forecasts for oil and gas demand in 2023.
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