U.S. Foreign Oil Addiction Is Shrinking to Eisenhower-Era Level
- U.S. crude, petroleum product net imports to drop to 1958-low
- Output to average 11.86 million barrels a day next year: EIA
Photographer: Eddie Seal/Bloomberg
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The U.S. will cut its reliance on foreign oil to the lowest in more than 60 years as domestic crude output surges to record levels.
The Energy Information Administration sees net imports of crude and petroleum products dropping to 1.5 million barrels a day in 2019, the lowest level since Dwight Eisenhower was president. The agency also raised its U.S. production outlook for both this year and next.