the U.S. Energy Information Administration said the country will produce 8.46 million barrels per day of crude oil in 2014, compared to 8.37 million barrels a day in the April forecast. For next year, the EIA estimates production of 9.24 million barrels a day of oil, up from 9.13 million barrels a day in previous forecasts.
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I thought the EIA had figured in industry estimates of rising oil production in the gulf of mexico. but maybe not.
EIA has increased its Gulf of Mexico crude oil production forecast as new wells in the Mars field began producing ahead of schedule in February 2014. The Olympus platform and Mars B infrastructure, owned by Shell and BP, is the first major expansion of the Mars field. Mars B production is expected to reach 100,000 bbl/d in 2015. Although the peak production levels have not changed, earlier reports indicated that the Mars B system would begin producing in late 2014 or early 2015. U.S. federal Gulf of Mexico (GOM) production, which has fallen for four consecutive years, is projected to increase by 150,000 bbl/d in 2014 and by an additional 240,000 bbl/d in 2015.
http://www.eia.gov/forecasts/steo/report/us_oil.cfm
May 6, 2014
