{"id":5982,"date":"2015-11-11T14:08:26","date_gmt":"2015-11-11T19:08:26","guid":{"rendered":"https:\/\/www.regiontrack.com\/www\/?p=5982"},"modified":"2015-11-11T14:08:26","modified_gmt":"2015-11-11T19:08:26","slug":"u-s-crude-oil-production-is-expected-to-bottom-in","status":"publish","type":"post","link":"https:\/\/www.regiontrack.com\/www\/u-s-crude-oil-production-is-expected-to-bottom-in\/","title":{"rendered":"U.S. Crude Oil Production is Expected to Bottom in…"},"content":{"rendered":"

The latest outlook on domestic\u00c2\u00a0crude production from the U.S. Department of Energy\u00c2\u00a0is not encouraging.\u00c2\u00a0<\/strong>Domestic oil production is not expected to bottom until\u00c2\u00a0September 2016.\u00c2\u00a0<\/p>\n

Production is expected to fall by about 1 million barrels per day<\/strong>\u00c2\u00a0to only 8.54 million barrels per day.\u00c2\u00a0 This is\u00c2\u00a0roughly an 11% decline from\u00c2\u00a0the recent peak of 9.6 million barrels per day set in April 2015.<\/p>\n

\"potw_1_20151111\"<\/a><\/p>\n

The pessimistic outlook for U.S. production continues to reflect the ongoing strength in world production<\/strong>. Saudi Arabia and Iraq<\/strong> have increased\u00c2\u00a0production substantially, while Iran<\/strong> is preparing to do the same if sanctions are lifted.<\/p>\n

The concern remains that declining U.S. production will not be sufficient to offset gains across the world and lift crude prices anytime soon.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The latest outlook on domestic\u00c2\u00a0crude production from the U.S. Department of Energy\u00c2\u00a0is not encouraging.\u00c2\u00a0Domestic oil production is not expected to bottom until\u00c2\u00a0September 2016.\u00c2\u00a0<\/p>\n","protected":false},"author":1,"featured_media":5981,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","om_disable_all_campaigns":false,"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,13,1],"tags":[31,52],"post_series":[],"class_list":["post-5982","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-graphic","category-pic-of-the-week","category-uncategorized","tag-crude-oil","tag-forecast","post_format-post-format-image","entry","has-media"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t