Falling oil prices could dampen the incentive for energy companies to produce as much crude in 2015
EIA expects strong crude oil production growth, primarily concentrated in the Bakken Eagle Ford, and Permian regions, continuing through 2015. Forecast production increases from an estimated 7.5 million bbl/d in 2013 to 8.5 million bbl/d in 2014 and 9.3 million bbl/d in 2015. The highest historical annual average U.S. production level was 9.6 million bbl/d in 1970.
The EIA’s projected daily production of 9.3 million barrels per day in 2015 comes close to levels in 1972.
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