EIA: U.S. Crude Production to Decline, Gas Storage to be Near Record

SUGAR LAND--August 12, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--In its monthly Short-Term Energy Outlook (STEO), released Tuesday, August 11, the U.S. Energy Information Administration (EIA) (Washington, D.C.) forecasts that U.S. crude oil production will continue declining through the rest of this year and through most of 2016. The agency is expecting declines in most of the major oil-producing shale formations, including the Bakken, Eagle Ford and Niobrara, which have all shown declining production figures since late spring.