U.S. crude oil production will continue to grow through 2019 and 2020, but at a much slower pace than in 2018, according to the latest forecasts from the U.S. Energy Information Administration. U.S. crude and condensates production is estimated to have risen by almost 1.6 million barrels per day last year, according to the agency, the largest annual increase in history. But the agency forecasts growth will slow to just over 1.1 million barrels per day in 2019 and less than 0.8 million bpd in 2020 (“Short-Term Energy Outlook”, EIA, Jan. 15). Growth from the Lower 48 states excluding federal waters in the Gulf of Mexico is expected to slow even more sharply from almost 1.6 million bpd in 2018 to 0.95 million bpd in 2019 and 0.5 million bpd in 2020. Surging […]