Offshore Oil Rig Companies pumping oil from the Gulf of Mexico will ramp up production in coming months, propping up American output, despite efforts to curb production and raise barrel prices. The United States currently produces 8.7 million barrels a day – a half a million less than where the figure stood last year, according to data from the Energy Information Administration (EIA). Low prices caused by the high output levels have kept oil exploration efforts at a minimum. Around 500,000 more barrels of crude from Mexico’s namesake gulf will go online by 2017, according to analysis by the Wall Street Journal that included government and private sector sources. “The projects are coming faster and sometimes bigger than expected,” Roger Diwan of IHS Energy told Dow Jones. “The ramp-up seems to have accelerated during low prices.” A handful of sizable fields had been funded for construction years prior, when […]