U.S. petroleum and other liquids production is expected to grow by 10% from 2022 through 2050, driven by international demand and higher exports of finished products, according to the Reference case in the recent Annual Energy Outlook 2023 (AEO2023) by the U.S. Energy Information Administration. The Reference case is the benchmark case in the outlook and reflects laws and regulations adopted through the middle of November 2022 but assumes no new laws or regulations in the future.
The Reference case is also based on the assumption that Brent Crude…EIA: U.S. Oil And Liquids Production Expected To Rise By 10% Through 2050
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