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 b/d for the period ended July 8, down 100,000 b/d from the prior week, the U.S. Energy Information Administration (EIA) said Wednesday.

Production remains about 1 million b/d below the pre-coronavirus weekly peak.

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