Highlights Lowers WTI, Brent price forecasts Warns of higher winter heating oil costs US crude output to average 12.4 million b/d in 2023 The US Energy Information Administration on Oct. 12 cut its forecast for 2023 global petroleum liquids production by 600,000 b/d to 100.7 million b/d, and cut its global consumption forecast by 500,000 b/d to 101.03 million b/d, citing lower GDP growth. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now In its Short-Term Energy Outlook, the EIA said OPEC crude production would average 28.6 million b/d over the fourth quarter of 2022 and the first quarter of 2023, down from 29.6 million b/d in September, following the cartel’s announced 2 million b/d production cut Oct. 5. However, the EIA sees OPEC crude output rising by the middle of the year, bringing the 2023 average to 28.85 million b/d, up slightly from […]