U.S. oil production climbs to record
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. ■