In the News

January 2017, Vol. 244, No. 1

EIA Sees Slippage in U.S. Crude Oil, Natural Gas Production   A late-year report by the Energy Information Administration (EIA) said U.S. crude oil production averaged 9.4 MMbpd in 2015 and is forecast to average 8.9 MMbpd in 2016 and 8.8 MMbpd in 2017. EIA forecasts Brent crude oil prices to average $43/b in 2016 and $52/b in 2017. West Texas Intermediate (WTI) crude oil prices are forecast to average about $1/b less than Brent prices in 2017. The values of futures and options contracts indicate significant uncertainty in the price outlook, EIA Administrator Adam…

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