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US Oil Production to Peak in 2039 - EIA-The 21st China (Guangzhou ) Int’l Casting product Exhibition
10/2/2019 - casting expo-Die-casting expo-foundry expo |
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Energy Information Administration in its latest long-term international energy outlook forecasts that US oil production will peak in 2039 at 14.28 million b/d, an increase of 15% from current levels, and decline to 12.18 million b/d by 2050. The reference case is based on USD 100/b Brent oil prices in 2050, annual economic growth of 3% and existing government policies.
The US pumped a record 12.43 million b/d in August
Globally, EIA sees oil production rising to 127 million b/d in 2050, up 30% from 2018 levels, with OPEC growth of 37% outpacing non-OPEC growth of 23%. Middle Eastern oil production is expected to average 39 million b/d in 2050, a 44% increase from 2018. EIA expects non-OPEC oil production of 59 million b/d in 2050, with growth led by Canada (up 125% from 2018 levels), Brazil (59%), Russia (22%) and the US (11%). Non-OPEC countries are expected to produce about 55% of global output in 2050, EIA said.
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-The 21st China (Guangzhou ) Int’l Casting product Exhibition
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