HOUSTON, Nov 8 (Reuters) – The US Energy Information Administration on Tuesday cut its forecast for next year’s crude oil production growth by 21%, days after oil producer heads warned of persistent inflation and supply chain constraints.

U.S. crude oil production is expected to increase by about 480,000 barrels per day (bpd) to 12.31 million bpd, the EIA said, from a previous growth forecast of 610,000 bpd.

Still, US oil production in 2023 will surpass the 2019 record of 12.29 million bpd.

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