OPEC

 

 

US Hikes Mid-Decade Output Estimates By 2mn B/D

 

The call on OPEC crude oil production for the coming years could be set for another sharp downward revision. The US government’s Energy Information Administration (EIA), in the 16 December ‘Early Release’ of its 2014 Annual Energy Outlook (AEO), predicts US crude output will hit 9.54mn b/d by 2016, within touching distance of the country’s 1970 record high. This represents a massive 2mn b/d...