US to reduce oil production in 2021

US to reduce oil production in 2021
# 12 March 2020 11:55 (UTC +04:00)

EIA forecasts U.S. crude oil production will average 13.0 million b/d in 2020, up 0.8 million b/d from 2019, but then fall to 12.7 million b/d in 2021, APA-Economics reports citing the monthly report of EIA.

The forecast decline in 2021 is in response to lower oil prices and would mark the first annual U.S. crude oil production decline since 2016.

EIA expects monthly U.S. crude oil production to begin declining around May, with production falling from 13.2 million b/d in May to 12.8 million b/d in December 2020.

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THE OPERATION IS BEING PERFORMED