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US Crude Output To Rise To 12.85mbpd in 2024: EIA

OIL

US crude oil production in 2024 is forecast at 12.85mbpd, compared with 12.77mbpd projected in June, EIA said in its monthly Short-Term Energy Outlook.

  • Crude oil output for this year is estimated at 12.56mbpd this year, compared with previous estimates of 12.61mbpd.
  • Crude output is expected to grow at an average of 290kbpd annually in 2024, compared with the previous forecast of 160kbpd.
  • EIA revised down its US dry natural gas production forecast for next year to 102.4bcf/d, compared with the previous forecast in June of 103.04bcf/d.
  • This year’s natural gas output is estimated at 102.3bcf/d, modestly down from the previous forecast of 102.74bcf/d.

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