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US Crude Output Expected To Surge In 2018

Oil

US crude oil output is expected to rise by 340K b/d y-o-y in 2017 to 9.22M b/d before rising by a further 690K b/d in 2018 to a record high 9.90M b/d, according to the US Energy Information Administration’s (EIA) latest Short-Term Energy Outlook. This represents an upward revision (compared to the prior month’s report) of 10K b/d for 2017 and 170K b/d for 2018.