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U.S. oil output to edge above 12 million bpd late 2019 - EIA

Reuters  |  NEW YORK 

NEW YORK (Reuters) - U.S. crude oil production is expected to average more than 12 million barrels per day late next year for the first time ever, the U.S. Energy Information Administration said in a monthly report on Tuesday. U.S. oil production has soared, boosted by improved technology for tapping shale formations. Output rose 5.6 percent last year and is expected to grow 15.4 percent this year. If the forecasts are realized, that will make the United States the world's largest crude producer, surpassing Russia. "Production growth in the United States, Brazil, Canada, and Russia will make ...

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First Published: Tue, July 10 2018. 22:14 IST
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