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
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.