February 7, 2019
Latest Oil Production Projections Predict Lower Prices, More Energy Security
The Energy Information Administration recently released its latest projections of oil production in the United States over the next decade. AAF’s Director of Energy Policy Philip Rossetti examines the implications of the latest projections for the economy.
His findings include:
- The United States will produce more oil than previously thought, driving down prices and reducing oil imports;
- Compared to last year’s projections, American oil producers can expect approximately $687 billion more in cumulative production value over the next 10 years—a 19 percent increase; and
- Increased production has reduced the ability of foreign oil producers to manipulate prices or influence policy.