Washington-In April 2015, US crude oil production averaged just shy of 9.7 million b/d, its highest point since April 1971. What a difference a year, a global supply glut, and a sustained price collapse make. In its Short-Term Energy Outlook, the US Energy Information Administration on Tuesday said it expects US crude oil production to average 8.6 million b/d this year, down 830,000 b/d from 2015’s average of 9.43 million b/d and 930,000 b/d below EIA’s initial 2016 production projection released early last year.
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