U.S. Oil Outlook Positive Long-Term, But Bumpy

July 15, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Crude-oil production growth continues despite short-term forecasts of a decline, and the United States remains a net exporter of refined petroleum products to 2050, the U.S. Department of Energy said. A shale boom at the early part of the century helped push the United States to the top of the list in terms of crude oil producers. Exports, meanwhile, began only after a 1970s-era moratorium was lifted in 2015, under President Barack Obama.