EIA Lifts 2019 U.S. Crude Output Growth Forecast

The U.S. Energy Information Administration said on Tuesday it expects domestic crude oil production in 2019 to rise by more than previously expected.

In its monthly short-term energy outlook, the agency forecast that U.S. crude oil output will rise by 1.14 million barrels per day (bpd) to 11.86 million bpd next year. Last month, it expected a 750,000 bpd year-over-year increase to 11.44 million bpd.

Reporting By Jessica Resnick-Ault