U.S. Crude Output to Rise 770,000 bpd in 202R

U.S. crude oil output is expected to rise 770,000 barrels per day to 11.97 million bpd in 2022, the government said in a monthly forecast on Tuesday.

U.S. crude output is expected to rise 630,000 bpd to 12.60 million bpd in 2023, according to the same monthly report from the Energy Information Administration. U.S. total petroleum consumption is due to rise 880,000 bpd to 20.66 million bpd in 2022.