WASHINGTON (Pakistan Point News / Sputnik - 10th March, 2021) US oil production is expected to average at 11.1 million barrels per day (bpd) this year, and climb to 12 million bpd in 2022, the Energy Information Administration (EIA) said on Tuesday.
"EIA expects US crude oil production will average 11.1 million b/d in 2021 and 12.0 million b/d in 2022," the agency said in its March Short-Term Energy Outlook (STEO) report.
Until a year ago, the United States was the world's largest oil producer, pumping a record high of 13.1 million bpd in March 2020 just before the global outbreak of the coronavirus pandemic.
After months of demand destruction for oil that followed, US output stabilized last week at 11 million bpd, data separately issued by the EIA showed.
In its STEO report, the EIA said US oil output took a sharp hit in February as well, falling 500,000 bpd to 10.4 million, after an unexpected epic snowstorm in Texas, the largest oil and gas producing state in the country.
Typically known for its sweltering weather most of the year, Texas initially looked like a white blanket from the Arctic blast that hit the state, known for maintaining temperatures of between 60�F (15.6�C) and 70�F (21.1�C). The deep-freeze in many parts of Texas was so bad that oil and gas couldn't flow like normal in key production basins.
"Infrastructure in Texas, such as wellheads, gathering lines, and processing facilities, are more susceptible to the effects of extremely cold weather," the EIA said.
Following repairs to the Texas infrastructure and resumption of normal weather, US production for March was expected to return to 11 million bpd, the agency added.
