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Houston, July 10, 2018 / The US Energy Information Administration (EIA) hopes in its report Tuesday that the United States will become one of the world's leading producers of crude oil if they maintain the current production rhythm.
For the month of June, the administration expects US crude oil production to average 10.8 million bpd in 2018, compared with 9.4 million bpd in 2017 and a average of 11.8 million bpd in 2019.
If achieved The two previous levels will exceed the previous record of 9.6 million O-barrels recorded in 1970.
estimates that the administration of the average production US crude oil reached 10.9 million barrels a day in June, up 0.1 million barrels a day from last May's level. Crude oil production in the United States has remained above the 10 million barrels a day mark since last February.
OPEC crude oil production averaged 31.9 million barrels per day in June. OPEC members and non-OPEC countries decided last November to increase their production cuts until the end of 2018 to reduce global oil stocks, but market conditions have forced the organization to reduce production cuts starting this month. Crude oil production in the United States will decrease by less than 0%. An average of 1 million barrels per day in 2019, reflecting the increase in crude oil production of some producers, often offset by expected reductions of more than 1.0 million barrels per day in Iran and Venezuela .
US net imports of crude oil and petroleum increased from an average of 3.7 million barrels per day in 2017 to an average of 2.4 million barrels per day in 2018 and 1.6 million barrels per barrel per year. average of 2019, the lowest level since 1958. [19659009]
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