US oil production expected to decrease
Baku, Azerbaijan, Sept. 8
By Aygun Badalova - Trend:
US Energy Information Administration (EIA) expects US oil production to average 8.8 million barrels per day in 2016 and 8.5 million barrels per day in 2017.
The country’s crude oil production averaged 9.4 million barrels per day in 2015, according to the EIA’s estimates, published in its September Short-Term Energy Outlook (STEO).
US oil production levels in 2017 for this forecast are 0.2 million barrels per day higher than in the August STEO.
The upward revisions to production largely reflect an assumption of higher drilling activity, rig efficiency, and well-level productivity than assumed in previous forecasts, the EIA said.