EIA forecasts US crude oil production rate to break record high in 2018 and again in 2019; 10.3 and 10.8 million b/d
Posted: Wed Jan 10, 2018 4:18 pm
In its latest edition of the Short-Term Energy Outlook, the US Energy Information Administration (EIA) forecasts that US crude oil production will average 10.3 million b/d in 2018—the highest annual average production in US history, surpassing the previous record of 9.6 million b/d set in 1970. EIA also forecasts that 2019 crude oil production will rise further to an average of 10.8 million b/d. US crude oil production averaged an estimated 9.3 million barrels per day (b/d) in 2017 and is estimated to have averaged 9.9 million b/d in December. . . .