Mouse Over to Stop Rotation & Read Ad

Wednesday, January 10, 2018

EIA Projects that U.S. Oil Production in 2019 May Surpass Saudi Arabia, Rival Russia

From CNBC:
American drillers will pump enough oil in 2019 to potentially surpass Saudi Arabia's output and rival the world's current top producer, Russia, according to a forecast from the U.S. Department of Energy. 
The department's Energy Information Administration forecast Tuesday that U.S. oil production will average 10.8 million barrels a day in 2019, a level that would put it on par with Saudi Arabia and Russia. EIA expects American output to top 11 million barrels a day for the first time ever in November 2019. 
This year, EIA sees U.S. output rising to 10.3 million barrels a day, the highest ever annual average production.

"Led by U.S. production, particularly in the Permian Basin, and new oil sands projects in Canada, non-OPEC production is forecast to continue growing through the end of 2019," EIA acting Administrator John Conti said in a statement. 
"We expect to see growth near 2.0 million barrels per day in 2018 and 1.3 million barrels per day in 2019."
Click here to read more.

Connect with us on Facebook and Twitter!

No comments :

Post a Comment

Follow by Email