{"id":"SEC-23-024","kind":"order","level":"federal","jurisdiction":"United States","state":"","metro":"","industry":"23","agency":"","eco":"","issuer":"U.S. Energy Information Administration","authority":"15 U.S.C. 772 (EIA); statistical report","instrument":"Short-Term Energy Outlook, June 2020 (released June 9, 2020)","title":"Short-Term Energy Outlook, June 2020","dateIssued":"2020-06-09","effective":"n/a (report)","end":"n/a","startDate":"2020-06-09","endDate":"2020-06-30","quarters":["2020Q2"],"types":["OTHER"],"addressees":["the public"],"clause":"EIA forecasts that demand for global petroleum and liquid fuels will average 83.8 million barrels per day (b/d) in the second quarter of 2020, 16.6 million b/d lower than at the same time last year. Lower demand is the result of COVID-19-related shutdowns throughout much of the world. As stay-at-home orders are eased, EIA expects liquid fuels consumption will rise... EIA expects jet fuel consumption to fall by 64% year-over-year in the second quarter of 2020, while gasoline consumption falls by 26% and distillate consumption falls by 17%.... EIA estimates U.S. crude oil production fell from a record 12.9 million b/d in November 2019 to 11.4 million b/d in May 2020 as Baker Hughes reported the fewest active drilling wells in the United States in their records which go back to 1987.... This 2020 production decline would mark the first annual decline since 2016.","enforcement":"n/a","functions":["CB (demand for the industry\u0027s product under the stay-home and travel orders)","DR (rig count)","EX"],"notes":"Facts and circumstances from the federal statistical agency: the causal chain from \u0027stay-at-home orders\u0027 to demand to production to drilling, in EIA\u0027s words.","sourceUrl":"https://www.eia.gov/outlooks/steo/archives/jun20.pdf","snapshot":"","fileExists":true,"fileBytes":3413563,"grade":"primary","character":"","description":"","collection":"SEC-23","url":"/library/SEC-23-024","exhibitUrl":"/exhibit/SEC-23-024","citation":"U.S. Energy Information Administration, Short-Term Energy Outlook, June 2020 (released June 9, 2020) (Ex. SEC-23-024)","stateName":"","related":[]}