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U.S. oil production climbs to record

Christian Fernsby |
U.S. oil production averaged a record 12.6 million b/d last week as U.S. net imports of crude oil fell to levels not seen since February, the U.S. Energy Information Administration said.

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Topics: U.S.   OIL   

In its Weekly Petroleum Status Report for the week ending October 4, the agency said domestic crude production had increased by 1.4 million b/d from the same week a year ago.

In its Short-Term Energy Outlook Tuesday, EIA forecast monthly US oil output to average 13 million b/d by December, but that roughly 1 million b/d of annual growth is expected to slow in 2020, climbing less than 400,000 b/d over the course of next year.

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