The U.S. Energy Information Administration (EIA) said in its short-term energy outlook report on Wednesday that U.S. oil production is expected to hit a record high this year, above previous forecasts, even as global oil supply outpaces demand.
US Oil Production to Reach Record High
The U.S. Energy Information Administration reports that U.S. oil production will hit a record high this year, surpassing previous forecasts despite a global supply glut.
