Eurasia Slashes US Oil Output Forecast by 600,000 Barrels a Day

Eurasia Group said its expectation that US crude production would reach a record 14 million barrels a day this year is “no longer tenable” as the Trump administration’s trade actions cast a pall over the global energy market.

Domestic output is now expected to stagnate near 13.4 million barrels a day or lower this year, Eurasia Group analysts including Gregory Brew and Henning Gloystein said in a note. US production last hit a monthly record of 13.45 million barrels a day late last year.

Oil prices have plunged more than 15% to four-year lows after US President Donald Trump launched ...