U.S. Crude Oil Production, Pieridae Energy: Your Daily Energy News

Energy Market highlights gathered by Industrial Info and IIR Energy

PRODUCTION
EIA: U.S. Crude Oil Output to Decline More than Previously Forecast - U.S. crude oil production is expected to fall by 290,000 barrels per day (bpd) in 2021 to 11.02 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, a steeper decline than its previous forecast for a drop of 270,000 bpd. (Reuters)

LNG
Pieridae Moves Closer to Decision on Nova Scotia LNG Export Plant - Canadian energy company Pieridae Energy Limited (TSX:PEA) (Calgary, Alberta) said on Thursday it still expects to make a final investment decision by June 30 on its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia. That would allow the $10 billion project to produce its first LNG in 2025-2026. (Projects 300124802, 300124807) (Reuters)

CRUDE OIL
Oil Drops 3% on India's COVID-19 Crisis, Fuel Pipeline Restart - Oil prices fell about 3% on Thursday as India's coronavirus crisis deepened and a key U.S. fuel pipeline resumed operations, halting a rally that had lifted crude to an eight-week high after forecasts for a rebound in global demand later in the year. Brent crude ended the session down $2.27, or 3.3%, at $67.05 a barrel, after rising 1% on Wednesday. West Texas Intermediate (WTI) settled$2.26, or 3.4%, lower at $63.82 a barrel, having risen 1.2% in the previous session. (Reuters)

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