U.S. Oil Output Set to Average 10.7 Million Barrels a Day in 2018, Highest on Record
- 2018 oil output forecast to average 10.7 million barrels a day
- Production expected to top 11 million barrels a day in October
IEA Says U.S. to Dominate Oil Markets for Years
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U.S. crude production is poised to accelerate this year, reaching the highest annual average on record.
The Energy Information Administration boosted its output forecasts for 2018 and 2019, and said that production would top 11 million barrels a day in October -- a month ahead of prior estimates.