U.S. SET TO BECOME WORLD’S TOP OIL PRODUCER

The U.S. government sees oil production further climbing next year even amid transportation logjams in the country’s most prolific shale play.

The Energy Information Administration sees U.S. crude output averaging 11.8 million barrels a day in 2019, up from its 11.76 million barrel a day estimate in the June outlook.

“In 2019, EIA forecasts that the United States will average nearly 12 million barrels of crude oil production per day,” said Linda Capuano, Administrator of the EIA. “If the forecast holds, that would make the U.S. the world’s leading producer of crude.”

FOLLOW THE LINK FOR THE FULL REPORT – JR

https://www.bloombergquint.com/markets/2018/07/10/u-s-set-to-become-world-s-top-oil-producer-government-says

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