U.S. Crude Output to Jump Above 11 Million Barrels a Day Sooner Than Expected
- Oil output to climb above key level in November of this year
- WTI price forecasts raised for both 2018 and 2019: EIA
Oil Fundamentals 'Very Much Intact,' Says Goldman's Currie
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The U.S. government sees nationwide oil production jumping above 11 million barrels a day much quicker than anticipated.
After oil output already topped 10 million barrels a day back in November, output will climb above the 11 million mark this November, the Energy Information Administration said in its monthly Short-Term Energy Outlook on Tuesday. It previously forecast production above that level in November 2019.