U.S. oil production fell sharply in 2020, but the Energy Information Administration is expecting it to pick back up and even set new records in just two years, it said in its much-anticipated annual energy outlook (AEO2021). According to the EIA, U.S. oil production will surpass in 2023 its previous annual average of 12.
25 million barrels per day, achieved in 2019. In 2020, U.S. oil production had reached a high of 13.1 million bpd on average for week ending March 13. But the overall annual average for the pandemic year was much lower after oil…U.S. Oil Production On Course To Hit Record Levels In 2023
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