US EIA cuts forecast for 2023 global liquids production, demand

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. In its Short-Term Energy Outlook, the EIA said OPEC crude production would average 28.6 million b/d over the fourth…