- The U.S. slashed its oil production forecast through next year, according to the EIA's latest STEO report
- U.S. output will reach 11.04 MMBbl/d in 2021, in contrasts with its previous estimate of 11.15 MMBbl/d — EIA
- The EIA also lowered its forecast for 2022 production by 100 MBbl/d to 11.9 MMBbl/d
- An Iranian vessel was struck off the coast of the Red Sea as nuclear talks begin in Vienna
- According to the New York Times, Israel was responsible. Israel has opposed countries rejoining the accord without harsh sanctions unless the country adheres to its uranium enrichment, regional proxy forces restrictions
- Significant progress was made between the U.S. and Iran to get both countries back into compliance with the nuclear deal, according to Bloomberg
- EIA weekly data is due at 9:30 am CST
- U.S. Crude Inventories: - 1,638 MBbls (Avg. Bloomberg surveys)
- U.S. Gasoline Inventories: - 747 MBbls
- U.S. Distillate Inventories: + 645 MBbls
- U.S. Refinery Utilization: + 0.85% change