https://finance.yahoo.com/news/u-fossil-fuel-production-set-…
America’s production of fossil fuels is expected to hit a record high in 2023, as continued improvements in drilling efficiency in oil and gas and high enough oil prices will support increased output of all fossil fuels, including coal, the U.S. Energy Information Administration (EIA) said on Friday.
U.S. crude oil production, which fell by 1 percent in 2021, is set for a 6-percent increase in 2022 and another 5 percent rise in 2023.
“We forecast that, in 2022 and 2023, crude oil prices will remain high enough to encourage growth in the number of active drilling rigs and continued improvement in drilling efficiency,” the EIA said.
5 Likes