U.S.: Oil production expected to hit record in 2020

According to the Energy Information Administration (EIA), U.S. oil production is expected to increase by 1.06 million barrels per day (bpd) by 2020 and reach a record 13.30 million bpd. As early as 2021, growth of 410,000 bpd is expected, going to 13.71 million bpd.

Linda Capuano, manager of the EIA, said in a statement that records in the coming years will be guided mainly by the increase in production in the Permian basin region of Texas and New Mexico.

“Both global supply and consumption should increase in 2020, with the offer by non-OPEC producers, particularly the USA, Norway, Brazil and Canada, more than compensating for the lower production of countries opec,” Capuano said.

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