The latest Energy Information Administration (EIA) forecast for US crude oil production is for an increase to about 11 million barrels per day and then having a plateau. When US crude oil production gets past 10.1 million barrels per day then it will have passed the old production peak in 1970. This will take a further increase of about 500,000 barrels per day. About 5% more production. Getting to 11 million barrels per day is the the low oil price case. If oil prices strengthen and/or oil recovery technology improves more then the US crude oil production would head to 13-15 million barrels per day by 2025. The High Oil and Gas Resource case in AEO2015 was developed using assumptions that result in higher estimates of technically recoverable crude oil and natural gas resources than those in the Reference case. Estimates of technically recoverable tight and shale crude oil […]