In December 2014 oil production reached its maximum since February 1986 and totaled 9.15 million barrels of oil a day, reads the statement of the US Energy Information Agency (EIA).
EIA forecasts that this year oil production in the country will total in average 9.3 million barrels of oil coinciding with the December forecast. The production forecast totals 9.5 million barrels of oil a day. Maximum oil production in the US was registered in 1970 – 9.6 million barrels of oil a day.
According to the EIA estimates, this year average Brent oil price will be $57.58 per barrel, down 15.4% against December ($68.08). In 2015 WTI oil price will be $54.58.
EIA forecasts that Brent price will reach $75.00 per barrel in 2016, while WTI price will increase up to $71.00 per barrel.
