EIA boosts price outlooks by $4/b for 2021, $6/b for 2022 Global oil demand growth to ease to 3.7 mil b/d in 2022 Vaccine rollouts, OPEC+ fight present risks to outlook US drilling activity will likely start to pick up by the end of the year and climb more steadily into 2022 if the current higher prices hold, the US Energy Information Administration said July 7 in its latest Short-Term Energy Outlook. Receive daily email alerts, subscriber notes & personalize your experience. Register Now US oil production has not reacted sharply to the recent jump in prices, as investors continue to demand capital discipline that prioritizes shareholder returns over production growth. EIA said it sees that changing if WTI prices remain above $60/b, a level that has signaled robust activity among US operators in the past. Higher production will likely not appear until the end of the year […]