OIL OUTPUT ROSE BY 17% (2.2MN B/D) TO A RECORD 15.3MN B/D FOR 2018 WITH FURTHER 13% (1.9MN b/d) GAINS FORECAST FOR 2019
SOURCE: EIA, MARCH 2019 SHORT TERM ENERGY OUTPUT, MEES CALCULATIONS.
NET IMPORTS WERE A MULTI-DECADE LOW OF 2.3MN B/D FOR 2018 AND PROJECTED* BELOW 1MN B/D FOR 2019 WITH THE US BECOMING A NET EXPORTER FROM MID-2020
*EIA STEO, MARCH 2019.
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