U.S. crude oil production this year will average 11.1 million bpd and will rise to 11.8 million bpd in 2022, the Energy Information Administration said in its latest Short-Term Energy Outlook - down from its previous forecast. The agency added that the most recent monthly data on production, from May, showed a daily average of 11.
2 million, which the agency expects to remain relatively unchanged until about October when it would start rising. The rise would continue through 2022, according to the EIA. The U.S. rig count has been on the rise lately,…EIA Lowers Oil Production Expectations For 2022
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