WorldOil API: Total U.S. petroleum demand in July highest since 2005 Total U.S. petroleum demand averaged 20.8 MMbpd in July 2019, which represented a 0.9% year-over-year increase and the highest demand for the month since 2005, per the American Petroleum Institute. Oil trader sees demand growth slowing due to trade wars, disruption risks Growth in global oil demand is slowing and won’t exceed 650,000 bpd this year before picking up pace up in 2020, according to Vitol Group’s chief executive officer. EIA: U.S. crude oil production continues to set records U.S. crude oil production in each of the first five months of 2019 showed increases over their 2018 levels, with April 2019 establishing a new monthly record. Production grew the most in the Permian region and the U.S. Gulf of Mexico. McKinsey report sees U.S. gas reach below $3/MMbtu in the next ten years Latest McKinsey Energy Insights report reveals US gas economics will reach below $3/MMbtu in the next ten years due to ample supply, which will support North American gas exports and unlock further demand growth domestically. OPEC sees new oil surplus in 2020 as U.S. shale surges again A week after OPEC agreed to keep oil production restrained until early next year, the group’s first forecasts for 2020 showed it faces an even longer and tougher challenge. Why oil's outlook could be even bleaker than expected As storm clouds gather over the world’s top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month. Oil supply to swamp demand, squeeze OPEC in 2020, IEA says Global oil supplies will increase far more than demand next year with the start of a host of new projects, putting further pressure on the OPEC cartel, the International Energy Agency said. IEA: Asia demand set to power global gas growth over the next five years After another record year, global demand for natural gas is set to keep growing over the next five years, driven by strong consumption in fast-growing Asian economies and supported by the continued development of the international gas trade. U.S. cuts oil production forecast for the first time in six months The U.S. government cut its oil production forecast for the first time in six months as drillers scale back in smaller shale plays and the U.S. Gulf of Mexico. Implications of the 2018 mid-terms for the oil and gas industry In the November 2018 mid-term elections, all 435 seats in the House of Representatives, 35 Senate seats, and 36 governorships were contested.