U.S. crude oil output to soar till 2020 despite price rout: EIA

April 15, 2015 2:19 AM

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U.S. crude oil output to soar till 2020 despite price rout: EIA

NEW YORK (Reuters) - The U.S. government on Tuesday forecast domestic crude production will rise even more than expected a year ago, undeterred by the worst price rout since the financial crisis.

U.S. crude oil production will peak at 10.6 million barrels per day in 2020, a million barrels more than the high forecast a year earlier, according to the annual energy outlook by the Energy Information Administration, the statistical arm of the U.S. Energy Department.

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