MIL-OSI Energy: EIA expects increased U.S. crude oil production, with continued high petroleum prices in 2022

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Source: US Energy Information Administration – EIA – Press Release/Statement:

Headline: EIA expects increased U.S. crude oil production, with continued high petroleum prices in 2022

The U.S. Energy Information Administration (EIA) forecasts that U.S. crude oil production will average 11.9 million barrels per day this year and 12.8 million barrels per day in 2023, which would surpass the record average production of 12.3 million barrels per day set in 2019. Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO).

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