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Survey: US Oil Firms Expect Domestic Output to Rise Amid Iran Conflict
A survey by the Federal Reserve Bank of Dallas showed that as the conflict involving Iran continues to disrupt global supply and push up crude oil and fuel prices, US oil industry ...
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A survey by the Federal Reserve Bank of Dallas showed that as the conflict involving Iran continues to disrupt global supply and push up crude oil and fuel prices, US oil industry executives expect domestic production to increase.

The survey indicated that 43% of respondents expect US crude oil output to rise by up to 250,000 barrels per day this year, diverging from the US Energy Information Administrations forecast of a decline of 70,000 barrels per day. About two-thirds of respondents believe that at least 90% of the currently shut-in crude production capacity in the Gulf region will eventually return to the market. Twenty percent of respondents expect shipping traffic through the Strait of Hormuz to return to normal next month, while 39% anticipate recovery by August this year, with the remainder expecting normalization in November or later. Most respondents expect freight rates for shipments from the Persian Gulf to increase after the end of the Middle East conflict, with more than one-third forecasting a rise of USD2 to USD4 per barrel.

Related NewsAPI Crude Oil Stock Change for Apr/17 in the United States is -4.400M, lower than the previous value of 6.100M. The forecast was -1M.
The survey was conducted between the 15th and 20th of this month, covering 78 oil and gas exploration and production companies and 42 oilfield services firms. (fc/j)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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