U.S. projects higher oil output in 2022 from rebounding shale

World Oil | Jan 12, 2021 at 1:00 AM
  • The U.S. government is forecasting oil production to rise about 3.5% next year spurred by higher crude prices and a rebound in shale drilling.
  • Oil output will average 11.49 million barrels a day in 2022.
  • Brent prices are forecast to average $52.70 a barrel and $53.44 a barrel in 2021 and 2022, respectively.