Macquarie predicts US oil production to reach 14 million barrels a day in 2023 due to lower costs and improved efficiency.
Macquarie predicts US oil production will hit a record of 14 million barrels a day in 2023, due to falling costs and improved drilling efficiency. This comes despite lower expectations for crude prices and subdued growth plans from publicly listed companies. Macquarie's forecast stands out from other analysts, as the US government expects production to reach 13.2 million barrels a day this year.
March 25, 2024
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