The United States Energy Information Administration (EIA) revises the crude oil production forecasts in November outlook for 2019.
- As per the EIA, the United stated crude oil production would increase by 30,000 barrels a day in 2019, which is 0.2 per cent higher against the previously estimated levels in October 2019.
- The increase in production is mainly anticipated by the EIA amid upward revision to historical production in the Lower 48 states of about 90,000 barrels a day in August and over the estimation of higher initial production for future wells that will be drilled in the Texas Permian region through 2020.
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