EIA forecasts higher volumes, lower prices
US production estimated at 12 million bpd for January, expected to hit 13 million bpd in 2020, but Brent down $10 from January 2018
Forecasts for Brent and West Texas Intermediate crude oil spot prices for this year and next are down in the February Short-Term Energy Outlook from the U.S. Energy Information Administration, while forecasts of U.S. crude oil production are up — both in comparison to the EIA’s January forecasts.
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Permian, Gulf of Mexico
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