The US Department of Energy Raised the Forecast for Oil Production in the Country for 2023-2024
The US Department of Energy has raised its forecast for average oil production in the country for 2023-2024, follows from the data of the monthly short-term forecast of the energy information administration of the ministry (EIA).
The US Department of Energy raised its forecast for average oil production for the current year by 200 thousand barrels per day – up to 12.76 million barrels per day, for 2024 – by 240 thousand barrels per day, up to 13.09 million barrels per day.
In July, the US Department of Energy lowered its 2023 forecast by 50,000 barrels per day to 12.56 million barrels per day, and raised its expectations for 2024 by 80,000 barrels per day to 12.85 million barrels per day.
The level of oil production in the United States in 2022 is estimated at 11.91 million barrels per day.
