A federal U.S. report shows oil production peaking in 2020, a forecast the industry says shows Washington needs to ensure dominance can continue. The U.S. Energy Information Administration said in an annual report domestic crude oil production peaks at 10.6 million barrels per day in 2020 and then fades to 9.4 million bpd by 2040. The general increase is greater than the previous year’s forecast. The full-year average production for 2015 is forecast at 9.2 million bpd. Kyle Isakower, a vice president for economic policy at the American Petroleum Institute, said federal data show the U.S. oil sector is resilient despite a weak crude oil market crimping spending on exploration and production. “We need more energy — not less — especially as natural […]