In its recently released Annual Energy Outlook 2015 (AEO2015) Reference case, EIA expects U.S. crude oil production to rise through 2020 as oil prices recover from their steep decline, reducing net petroleum (crude oil and petroleum products) imports. AEO 2015 explores the effects of domestic crude oil production under various assumptions about world oil prices and domestic resource availability. In all AEO2015 scenarios, the United States remains a net importer of crude oil (despite increased domestic production) and a net exporter of petroleum products. As always with EIA base-case outlooks, AEO2015 assumes no changes in current laws and regulations. Thus, all cases in the AEO2015 assume that current restrictions on U.S. crude oil exports remain in place. Increasing levels of domestic crude oil production through 2020 have […]