James Davis, the Director of Short-Term Global Oil Service & Head of Upstream Oil at FGE, revealed to Rigzone that FGE expects U.S. crude oil production to peak at “around 14 to 14.2 million barrels per day”.
“We believe crude oil production in the U.S. is nearing its peak now, but the actual peak level may not be seen until another major upwards price cycle, perhaps later this decade,” Davis told Rigzone.