U.S. crude oil production is set to remain close to its current levels of around 11 million barrels per day (bpd) through the end of 2021, as new drilling activity will not be enough to offset declines from existing wells, the Energy Information Administration (EIA) said on Tuesday. Crude oil production in the United States hit a record 12.9 million bpd in November last year. As of March this year, when oil prices collapsed with the pandemic and the Saudi-Russian price war, American crude oil output averaged 12.7 million bpd. Over the next two months, U.S. producers curtailed more than 2.5 million bpd of oil production due to the low oil prices, which were well below break-even prices for most of the onshore shale producing regions. By May 2020, U.S. crude oil production had slipped to 10.0 million bpd, the lowest level since January 2018, according to EIA data. […]