US oil production decline to slow in 2016-17: EIA

摘要

Washington-The decline in US oil production both this year and next will not be as dramatic as previously predicted, the Energy Information Administration said Tuesday. In its August Short-Term Energy Outlook, the EIA said that US crude production will average 8.73 million b/d in 2016 and 8.31 million b/d in 2017. While down from the 2015 average of 9.43 million b/d, the forecast US supply average for this year and next are 120,000 b/d and 110,000 b/d above the production levels EIA forecast for those respective years last month.