- US Predicts Rising Oil Output for Rest of 2019 Following Hurricane Season - Energy Dept.
US Predicts Rising Oil Output For Rest Of 2019 Following Hurricane Season - Energy Dept.
Crude oil production is expected to rise between now and the end of the year, following a summer output drop as Hurricane Barry forced oil rigs in the Gulf of Mexico to shut down, the Energy Information Administration (EIA) said in a report on Wednesday
"The decline was temporary and geographically isolated to the Federal Offshore Gulf of Mexico," the report said. "EIA expects that US crude oil production will continue to increase through the remainder of 2019."
Monthly US crude oil production fell by 276,000 barrels per day in July, the largest decline in monthly crude oil production in more than a decade as Hurricane Barry forced the evacuation of 283 offshore oil and gas platforms in the Gulf of Mexico, the report said.