Oil & Gas 360 | Staff
EIA predicts that US oil production growth will accelerate in 2018.
Oil production by the U.S. is growing fast as U.S. shale producers continue to ramp up activity, according to the EIA’s most recent Short Term Energy Outlook. The EIA predicts that oil production in 2017 will average 9.3 MMBOPD, up from 8.9 MMBOPD last year. Growth will accelerate in 2018, with U.S. production averaging 9.9 MMBOPD in 2018. This will break the previous record for annual production, 9.6 MMBOPD in 1970, by a sizeable margin.
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