Macquarie Group analysts said in a report that US oil production will reach a record 14 million b/d by the end of this year due to lower costs and improved drilling efficiency.
The Zhitong Finance App learned that Macquarie Group analysts said in a report that due to lower costs and improved drilling efficiency, US oil production will reach a record 14 million b/d by the end of this year.
Macquarie correctly predicted an increase in US shale oil production last year. As the company released its latest forecast, US shale oil explorers are planning to control production growth for the fourth year in a row, and industry consolidation has brought adverse factors to further growth. The US government expects oil production to rise slightly to 13.2 million b/d this year.
Macquarie also predicted that despite the expected sharp drop in oil prices, US oil production in 2025 will be around 14.5 million b/d. Analysts led by Walt Chancellor said in the report: “If private sector growth momentum resumes next year and listed companies explore high-quality resource blocks, then this year's negative factors may turn into favorable factors.”