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U.S. Heads for Two Years of Record Oil Production
Output of crude oil in the U.S. appears likely to set new records this year and in 2019, says the Energy Information Administration.
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Output of crude oil in the U.S. appears likely to set new records this year and in 2019, says the Energy Information Administration.
The country’s previous peak production was in 1970, when output averaged 9.6 million barrels per day. EIA predicts the output will climb to 10.7 million barrels per day this year and 11.7 million barrels in 2018.
Most of the growth will come from oil shale operations in western Texas and eastern New Mexico, according to EIA. Offshore drilling in the Gulf of Mexico will be the second-largest contributor to growth, thanks to the addition of 10 new fields this year and six more in 2019.
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