Otmane El Rhazi : Increasing domestic production of crude oil reduces net petroleum imports

Otmane El Rhazi from Today in Energy.

In its recently released Annual Energy Outlook 2015 (AEO2015) Reference case, EIA expects U.S. crude oil production to rise through 2020 as oil prices recover from their steep decline, reducing net petroleum (crude oil and petroleum products) imports. AEO 2015 explores the effects of domestic crude oil production under various assumptions of world oil prices and domestic resource availability.