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Mark Green

Mark Green
Posted January 20, 2015

U.S. Oil Production Expected to Rise as Prices Stumble

Pittsburgh Post-Gazette: The new year has seen crude oil prices continue to stumble and U.S. oil production continue to soar, and those trends are not likely to subside — at least in the short term.

Total U.S. crude oil production reached 9.1 million barrels per day (bbl/d) during the week ending Jan. 9, an increase over last year’s total of 8.1 million, according to the U.S. Energy Information Administration.

And that figure is expected to grow. The agency forecasts total crude production will average 9.3 million barrels per day in 2015 and climb to 9.5 million in 2016, “which would be the second-highest annual average level of production in U.S. history; the highest was 9.6 million bbl/d in 1970,” the EIA said in its short-term energy outlook released last week.

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ABOUT THE AUTHOR

Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.