EIA Short-Term Energy Outlook

EIA estimates U.S. total crude oil production averaged 6.4 million barrels per day (bbl/d) in 2012, an increase of 0.8 million bbl/d from the previous year. Projected domestic crude oil production continues to increase to 7.3 million bbl/d in 2013 and 7.9 million bbl/d in 2014, which would mark the highest annual average level of production since 1988.

The last two weeks of 2012 had US total crude oil production at 7.0 million barrels per day.

An annual projection of 7.3 million bpd for 2013 means starting at 7.0 and ending at about 7.6 million by the end of the year.

An annual projection of 7.9 million bpd for 2014 means starting at 7.6 and ending at about 8.2 million by the end of that year.

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