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EIA energy outlook update: US oil production up again, higher gas prices seen this summer

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The April Short-Term Energy Outlook (STEO) released Tuesday (April 10) by the Energy Information Administration (EIA) estimates that the nation’s crude oil production averaged 10.4 million barrels per day (bpd) in March, up 260,000 bpd from February's level. EIA forecasts the average will increase to a record 10.7 million bpd in 2018 the same as last month's estimate, which would be the highest production level seen since the current record of 9.6 million bpd set in 1970.

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