OPEC Forecasts US Crude Oil Production To Grow To 11.82 Mln BpD In 2022 - Report

OPEC forecasts the United States crude oil production to grow by 0.65 million barrels per day year-on-year and reach 11.82 million barrels per day in 2022, according to its report published on Tuesday

MOSCOW (UrduPoint News / Sputnik - 18th January, 2022) OPEC forecasts the United States crude oil production to grow by 0.65 million barrels per day year-on-year and reach 11.82 million barrels per day in 2022, according to its report published on Tuesday.

"Given the current pace of drilling and well completion in oil fields, production of crude oil is forecast to grow by 0.65 mb/d y-o-y to average 11.82 mb/d. This forecast assumes ongoing capital discipline, limited active drilling rigs, completion crews and labour shortages," OPEC said, adding that "US crude oil production is expected to exit December 2021 at 11.70 mb/d."