The Energy Information Administration expects OPEC’s combined crude oil production this year to be 1 million barrels per day lower than in 2018, when the cartel produced an average 31.92 million bpd, the authority said in its latest Short-Term Energy Outlook. This, however, won’t be enough to push prices higher if the EIA turns out correct about the trend in non-OPEC production, led by the United States, which the EIA sees rising by 2.4 million bpd this year from last. In 2020, OPEC’s production is likely to remain flat on 2019,…
