Mexican Media Brands
U.S. Heads for Record-High Oil Production
U.S. output of crude oil averaged 10.9 million barrels per day in June and will likely average an all-time high of 10.8 million bpd for 2018.
#economics
Share
U.S. output of crude oil averaged 10.9 million barrels per day in June and will likely average an all-time high of 10.8 million bpd for 2018, according to the U.S. Energy Information Agency.
EIA says average output in 2019 is likely to reach 11.8 million bpd. The country’s previous record was 9.6 million bpd in 1970. Global petroleum output averaged 98.5 million bpd last year.
The agency says average gasoline prices in the U.S. peaked at $2.96 per gallon in May. EIA predicts prices will slowly decline through September, resulting in a full-year average of $2.76 in 2018. Prices in 2019 are expected to average $2.77.
RELATED CONTENT
-
Fuel Economy Gains in July
What you’re looking at here is a sales-weighted fuel economy chart (the numbers in the white boxes represent miles per gallon) that was put together by two diligent researchers, Michael Sivak and Brandon Schoettle, of the University of Michigan Transportation Research Institute.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.