US Expected To End 2018 As World’s Top Oil Producer, EIA Says

U.S. crude oil output growth was expected to slow slightly for this year compared with previous forecasts, the Energy Information Administration (EIA) said Dec. 11, but at a record 10.88 million barrels per day (bbl/d), the nation will end 2018 as the world’s top producer.

Output this year was forecast to rise by 1.53 million bbl/d to 10.88 million bbl/d, down from the EIA’s previous estimate of an increase of 1.55 million bbl/d. The current all-time U.S. annual output peak was in 1970 at 9.6 million bbl/d, according to federal energy data.

For 2019, U.S. crude oil production was expected to average 12.06 million bbl/d, the EIA said, up 1.18 million bbl/d from the prior year which is a small upward revision from the previous forecast of a 1.16-million bbl/d rise.