US output to fall to 12.18 million b/d by 2050 Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC to lead oil output growth through 2050 Non-OPEC producers to supply 55% of global output US oil production will peak in 2039 at 14.28 million b/d, an increase of 15% from current levels, and decline to 12.18 million b/d by 2050, the Energy Information Administration said Tuesday in its latest long-term international energy outlook. The reference case is based on $100/b Brent oil prices in 2050, annual economic growth of 3% and existing government policies. The US pumped a record 12.43 million b/d in August, according to EIA’s latest Short-Term Energy Outlook. Globally, EIA sees oil production rising to 127 million b/d in 2050, up 30% from 2018 levels, with OPEC growth of 37% outpacing non-OPEC growth of 23%. Middle Eastern oil production is […]