The US Energy Information Administration Aug. 11 slashed its 2020 forecast for US oil production by 370,000 b/d from last month’s outlook to 11.26 million b/d based on more extensive curtailments than it previously estimated. Receive daily email alerts, subscriber notes & personalize your experience. Register Now EIA raised its 2021 outlook for US production by 130,000 b/d to an average 11.14 million b/d, with production rising slowly but steadily to end the year at 11.5 million b/d. US oil production for both years would remain below the 2019 average of 12.25 million b/d. The forecast assumes Energy Transfer’s 570,000 b/d Dakota Access Pipeline will continue operating after an appeals court overturned a district judge’s order to shut the system by Aug. 5. EIA raised its […]