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U.S. Oil Production Ebbs, IEA Cuts Global Demand Forecast as Biden Heads to Middle East

U.S. Oil Production Ebbs, IEA Cuts Global Demand Forecast as Biden Heads to Middle East

On a day when President Biden launched a Middle East tour in part to press for greater crude output, U.S. officials said American oil production declined along with consumption. A global energy watchdog also lowered its demand outlook, citing the specter of recession. One week after reaching a 2020 high, U.S. producers pumped 12.0 million…

July 13, 2022