U.S. crude oil production remained level during the week ending Oct. 18, U.S. Energy Information Administration (EIA) said Wednesday.
According to the EIA, U.S. crude oil production last week stayed the same as the previous week at 12.6 million barrels per day (b/d), up by about 1.7 million b/d year on year. This was the second week that the U.S. crude oil production remained level after increasing for one week.
In the EIA's latest Short-Term Energy Outlook released earlier this month, U.S. crude oil production will average 12.3 million barrels per day (b/d) in 2019, up by 1.3 million from the 2018 level, and will rise by 0.9 million b/d in 2020 to an annual average of 13.2 million b/d.
According to EIA, U.S. crude oil production remained relatively flat during the first seven months of 2019 because of disruptions to Gulf of Mexico platforms and slowing growth in tight oil production. However, EIA expected growth to pick up in the fourth quarter as production returns in the Gulf of Mexico and pipelines in the Permian Basin come online to link production areas in West Texas and New Mexico to refining and export centers on the Gulf Coast.
Editor:Iris
