The US Energy Information Administration (EIA) expects US oil output to reach record high in November, a month faster than previously forecast. In its latest Short-term energy outlook, EIA predicts US crude production in November to an average of 13.03 million bpd.
However, the production will grow by 380,000 bpd to 13.41 million bpd by November 2020. The growth is lower than 1.03 million-bpd growth in November 2018 to November 2019 and 1.93 million-bpd increase from November 2017 to November 2018.
For the full-year 2019, EIA expects US oil production to average 12.29 million bpd, rising from 10.99 million bpd last year. Meanwhile, the production forecast for 2020 stood at 13.29 million bpd.
Tags: AlwaysFree,Americas,Crude Oil,EN ALWAYSFREE,Energy & Feedstocks,English,United States Energy Information Administration (EIA),US crude oil output,US oil production growthNovember 14, 2019 8:21 PM (GMT+8)