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According to Dow Jones on August 7, the U.
S.
Energy Information Administration (EIA) lowered its 2018 U.
S.
oil production forecast to 10.
68 million b/d, down 1% from 10.
79 million b/d forecast a month ago, mainly because the shortage of pipeline capacity in shale oil production areas such as the Permian Basin in West Texas is forcing producers to reduce production activities
.
The EIA's monthly short-term energy market outlook also raised its 2018 WTI crude price forecast to $66.
21/b
from $65.
95/b forecast a month ago.
According to Dow Jones on August 7, the U.
S.
Energy Information Administration (EIA) lowered its 2018 U.
S.
oil production forecast to 10.
68 million b/d, down 1% from 10.
79 million b/d forecast a month ago, mainly because the shortage of pipeline capacity in shale oil production areas such as the Permian Basin in West Texas is forcing producers to reduce production activities
.
The EIA's monthly short-term energy market outlook also raised its 2018 WTI crude price forecast to $66.
21/b
from $65.
95/b forecast a month ago.
