U.S. Oil Production Could Hit 16 Million BBL/d by 2023

SUGAR LAND, TEXAS--August 16, 2019--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--The global crude oil market looks to continue in an oversupply mode for the next several years, possibly until 2024. However, the supply-demand balance could tighten and prices could increase sharply if production from Libya, Venezuela or Nigeria stops, Bernadette Johnson, vice president of market intelligence at Drillinginfo Incorporated (Littleton, Colorado), told an Oil & Gas conference in Denver on Tuesday. Within this article: The Oil & Gas Conference in Denver, Colorado