Domestic crude oil production will grow by an estimated 400,000 barrels per day (b/d) over the next two years according to a new report from the U.S. Energy Information Administration (EIA).
In the latest edition of the Short-Term Energy Outlook, the EIA said that the U.S. produced averaged an estimated 8.9 million b/d in 2016 and is forecast to rise to 9.0 million b/d in 2017 and 9.3 million b/d in 2018. The upward trend is in part due to increasing tight oil productivity in areas like North Dakota’s Bakken region. According to the EIA, the growth in production is a result of more drilling activity, rig efficiency, and well-level productivity.
Growth in domestic production continues to be huge asset to the U.S. economy, sending gas prices to historic lows, stimulating the manufacturing sector, and allowing American foreign policy to be conflicted by the nation’s energy needs. However, this uptick, particularly in the Bakken region, cannot be sustained without the necessary pipeline infrastructure needed to safely and efficiently move resources to critical refining markets across the country.
The state-of-the-art Dakota Access Pipeline (DAPL) will support American energy independence in a way that guarantees protections for both our communities and the environment.