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An oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. (REUTERS)
The EIA forecast US oil production to average 12.36 million bpd in 2019, up about 40,000 bpd from last month's forecast, and 13.26 million bpd in 2020.
OPEC kept its modest global oil demand growth forecast at 1.14 million bpd for 2020, suggesting that the world would need 29.27 million bpd of crude from its 14 members in 2020, down 1.34 million bpd this year.
After holding stable below $65 and $60 for nearly two months respectively, Brent crude's