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U.S. Oil Output Is Set to Rise Next Year on Higher Prices, Drilling

  • Production next year will average 11.49 million barrels a day
  • Price gains to lead output to begin to rise in second quarter
A drilling rig in the Bakken Formation of North Dakota.

A drilling rig in the Bakken Formation of North Dakota.

Photographer: Daniel Acker/Bloomberg

The U.S. government is forecasting oil production to rise about 3.5% next year spurred by higher crude prices and a rebound in shale drilling.

Oil output will average 11.49 million barrels a day in 2022, according to the Energy Information Administration. The agency, which left its production estimate for this year unchanged at 11.1 million, said that recent crude price increases and rig additions will help production in the Lower 48 states begin to rise in the second quarter of this year.