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EIA expects US oil output to grow more than prior estimates

Wednesday, 10 July 2024 | 20:00

U.S. oil output will grow by 320,000 barrels per day (bpd) this year to 13.25 million bpd, a slightly bigger record than previously expected, the U.S. Energy Information Administration (EIA) said on Tuesday.

The agency, which earlier forecast U.S. output for this year to average 13.24 million bpd, raised its output forecast for next year as well. EIA now expects domestic output of 13.77 million bpd in 2025, up from its prior forecast of 13.71 million bpd.
Source: Reuters (Reporting by Shariq Khan in New York)

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