EIA revised May demand significantly upward
EIA revised May demand significantly upward
In additional to revising US May production lower, EIA revised May demand upward from about 20 mbpd (from old weekly data) to 20.80 mbpd using more recently released monthly data. Reportedly, 20.80 mbpd is the highest recorded demand figure for May. https://www.reuters.com/business/energy/us-oil-output-fell-may-first-time-since-january-eia-says-2024-07-31/