Energy Information Administration under the US Ministry of Energy has slightly increased its outlook on oil production in the US for 2021, APA-Economic reports citing EIA's report.
"EIA’s most recent monthly data show U.S. crude oil production was 11.2 million b/d in May. We expect production to be relatively flat through October before it starts rising in November and December and throughout 2022. Forecast U.S. crude oil production for 2022 averages 11.8 million b/d, up from 11.1 million b/d in 2021," noted in the report.
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