10 July 2007 21:22 [Source: ICIS news]
HOUSTON (ICIS news)--US oil production will reach an average of 5.2m bbl/day in 2007, up 0.6% from the average in 2006, a federal agency said on Tuesday.
The Energy Information Administration gave its prediction in its Short-Term Energy Outlook, released on Tuesday.
The administration's forecast includes an outage of 13m bbl in the Gulf coast, due to hurricanes.
In 2008, US production should reach an average of 5.3m bbl/day, due to the introduction of new oil platforms, the administration said.US oil consumption should reach an average of 20.9m bbl/day in 2007, up 1.4% from 2006, the administration said. In 2008, consumption should reach an average of 21.1m bbl/day.
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