EIA's Most Recent Energy Report Is Staggering -- January 17, 2019

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Title : EIA's Most Recent Energy Report Is Staggering -- January 17, 2019
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EIA's Most Recent Energy Report Is Staggering -- January 17, 2019

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12: US oil output to average 12 million bopd in 2019.
U.S. crude oil production will average 12.1 million barrels per day (MMbpd) in 2019 and 12.9 MMbpd in 2020, with most of the growth coming from the Permian region of Texas and New Mexico.
That’s according to the U.S. Energy Information Administration’s (EIA) latest short-term energy outlook, which estimates that U.S. crude oil production averaged 10.9 MMbpd in 2018.
The EIA’s latest outlook forecasts that U.S. dry natural gas production will average 90.2 billion cubic feet per day (Bcf/d) this year and 92.2 Bcf/d in 2020, with increases in the Appalachia and Permian regions “driv[ing] the forecast growth”. U.S. dry natural gas production averaged 83.3 Bcf/d in 2018, the EIA highlighted.
U.S. crude oil and petroleum product net imports are estimated to have fallen from an average of 3.8 MMbpd in 2017 to an average of 2.4 MMbpd in 2018, according to the EIA’s January outlook. The organization forecasts that net imports will continue to fall to an average of 1.1 MMbpd in 2019 and to less than 0.1 MMbpd in 2020. In the fourth quarter of 2020, the EIA forecasts the United States will be a net exporter of crude oil and petroleum products, by about 0.9 MMbpd.


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