U.S. Oil Output to Hit a Record in 2018
- EIA lowers 2017 WTI price forecast to $50.68 from $52.24
- Brent crude 2017 price projection revised down 3% to $52.60
Barclays' Cohen Says Catalysts Converged to Hit Oil
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U.S. crude production forecasts keep growing.
The Energy Information Administration said domestic output will climb to a record 9.96 million barrels a day in 2018, up from 9.9 million barrels projected last month, according to the agency’s monthly Short-Term Energy Outlook released Tuesday. Production will average 9.31 million barrels a day in 2017, up from 9.22 million projected in April.