Written by
(AP) – The U.S. says domestic oil production levels will reach new heights this year and next, and that prices will be lower than they were in 2018.
The U.S. Energy Information Administration said Tuesday that it expects the United States to pump 12.4 million barrels of crude a day in 2019 and 13.2 million barrels a day in 2020. The January average was 12 million barrels a day, up 90,000 from December.
Most of the increase is expected to come from Texas and New Mexico.
The energy agency expects U.S. benchmark crude to cost less than $55 a barrel this year and $58 next year, down from $65 in 2018. It expects internationally traded oil to be $61 this year and $62 next year, down from $71 in 2018.
Related Posts
-
Best of Central Valley Business Awards: Professional services and business support winners Posted: December 20, 2024 at 3:08 pmOn Tuesday, Dec. 10, The Business Journal hosted its 11th
Read more » -
Florida agriculture hit with $190M losses from Hurricane Milton Posted: at 2:29 pmFlorida agriculture suffered more than $190 million in losses from
Read more » -
What’s next for the man charged with killing UnitedHealthcare’s CEO? Posted: at 2:29 pm
The man accused of gunning down United Healthcare’s CEO outside
Read more » -
Minneapolis softens law on obstructing abortion clinics in response to free-speech lawsuit Posted: at 2:29 pm
Minneapolis has softened an ordinance that prohibited the obstruction of
Read more »
Central Valley Biz Blogs
-
From dishwasher to Navy officer: Lt. Jose MendezAmbriz’s journey
Posted: December 17, 2024 at 10:55 am
One of my favorite sections of our weekly newspaper is
Read more » -
BLOG: Tax assessor? Not quite — here’s the real scoop on property taxes in Fresno
Posted: December 16, 2024 at 4:39 pm
In this festive season, as I gather with friends and
Read more »
