Last updateMon, 28 Sep 2020 2pm

Manufacturing & The Economy

2020 U.S. Oil Production Growth Forecast Increases

The U.S. Energy Information Administration (EIA) estimates that annual average U.S. crude oil production reached a new record of 12.2 million b/d in 2019, up 1.3 million b/d from 2018. EIA forecasts U.S. crude oil production to average 13.3 million b/d in 2020 and 13.7 million b/d in 2021. More production from the lower 48 states’ onshore regions, especially the Permian region, drives the forecast increase.

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