US government agency the Energy Information Administration (EIA) has forecast a boost to US crude oil output in 2017-2018 thanks to contributions from some big projects expected to bear fruit in the Gulf of Mexico.
The EIA, part of the Department of Energy, foresees an increase of 400,000 barrels per day, with a chunk of that improvement being put down to new or expanded production from fields such as Chevron’s Big Foot and Tahiti, Hess Corporation’s Stampede and Freeport-McMoRan’s Horn Mountain Deep.
EIA did qualify its prediction, saying the increased output levels were contingent on sustained healthy prices.
The agency collects, analyses and disseminates information about energy and its interaction with the economy and the environment.
