The People of America's Oil and Natural Gas Indusry

The Resiliency of American Energy

Mary Leshper

Mary Schaper
Posted January 14, 2015

Oil Output Seen Rising, despite fall in Its Price

NY Times: Even with oil prices continuing to plummet and oil companies decommissioning drilling rigs every day, the Energy Department on Tuesday projected that domestic crude production would continue to rise in 2015, although growth would slow.

The forecast of even more American supplies on an oversupplied global market was not unexpected, but it added to the probability that oil prices that have plummeted around 55 percent since June will not completely recover any time soon.

But the department projected a modest recovery for the Brent global oil price benchmark, now around $46 a barrel, which it said would average $58 a barrel this year but rebound to $75 in 2016. On Tuesday, both Brent and the American benchmark oil prices tumbled sharply, but later rose from their lows. 

Read more: http://nyti.ms/14Wrxtl

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ABOUT THE AUTHOR

Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.