The Traderszone Network

Published in TZ Latest News 14 April, 2015 by The TZ Newswire Staff

U.S. crude oil output to soar till 2020 despite price rout: EIA

The U.S. government on Tuesday forecast domestic crude production will rise even more than expected a year ago, undeterred by the worst price rout since the financial crisis. U.S. crude oil production will peak at 10.6 million barrels per day in 2020, a million barrels more than the high forecast a year earlier, according to the annual energy outlook by the Energy Information Administration, the statistical arm of the U.S. Energy Department. Crude production will then moderate to 9.4 million bpd in 2040, 26 percent more than expected a year ago, the agency said.

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