US crude oil output expected to grow in 2017
Baku, Azerbaijan, Feb.8
By Leman Zeynalova – Trend:
US crude oil production is expected to increase by 0.1 million barrels per day (b/d) in 2017 year-over-year and by 0.5 million b/d in 2018, the country’s Energy Information Administration (EIA) said in its February Short-Term Energy Outlook (STEO).
The country’s crude oil production is forecast to average 9.0 million b/d in 2017 and 9.5 million b/d in 2018.
According to EIA estimates, US crude oil production averaged 8.9 million b/d in 2016.
EIA forecasts the crude oil production in US Lower 48 ( contiguous continental states area of the US, comprising 48 states in number, and the District of Columbia, excluding Alaska and Hawaii) to average 6.88 million b/d in 2017 and 7.29 million b/d in 2018, which are 70,000 b/d and 310,000 b/d higher, respectively, than in the previous forecast.
This is while the country’s dry natural gas production is forecast to average 73.7 billion cubic feet per day (Bcf/d) in 2017, a 1.3 Bcf/d increase from the 2016 level.
Natural gas production in the US in 2018 is forecast to increase by an average of 4.1 Bcf/d from the 2017 level.
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