The EIA’s short-term energy outlook , released on April 11, predicted increases in American energy production, along with an increase in imports. The agency’s forward predictions on the outlook of U.S. oil and gas production are mostly bullish, despite earlier reports that total energy production in the U.S. had fallen by 4 percent , a change driven largely by declining demand for coal and low oil and gas prices. However, while the agency expects natural gas prices to climb, there are only moderate expectations for future increases in the price of oil, a sign that the EIA doesn’t expect demand to seriously outstrip supply in the short-term. The EIA report estimated the average U.S. oil production in 2016 to have been 8.9 million bpd. Looking ahead, the EIA estimates the average for 2017 to hover around 9.2 million bpd and 9.9 million the following year, an increase of 11 […]