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U.S. crude oil production forecast to rise in 2022 and 2023 to record-high levels - Climate Impact Capital U.S. crude oil production forecast to rise in 2022 and 2023 to record-high levels - Climate Impact Capital

U.S. crude oil production forecast to rise in 2022 and 2023 to record-high levels

In our February 2022 Short-Term Energy Outlook (STEO), we forecast that crude oil prices will remain high enough to drive U.S. crude oil production to record-high levels in 2023, reaching a forecast 12.6 million barrels per day (b/d). We expect new production in the Permian Basin to drive overall U.S. crude oil production growth.

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