Report: US Oil Output To Grow Faster Than Expected In 2018

U.S. crude oil output in 2018 is expected to grow more quickly than previously forecast to a record high, according to a monthly U.S. government forecast on Oct. 10.

Crude production was expected to rise 1.39 million barrels per day (bbl/d) to 10.74 million bbl/d this year, the U.S. Energy Information Administration (EIA) said in its short-term energy outlook.

Last month, the agency expected crude output to rise by 1.31 million bbl/d to 10.66 million bbl/d in the year.