Business Insider’s Chart of the Day uses data from the
Energy Information Administration’s Short-Term Energy Outlook to illustrate the EIA’s
projection for U.S. crude oil production.
2012 production is 6.3 million barrels per day (bbl/d). The EIA predicts 2013 production will rise to
its highest level in twenty years: 6.8 million bbl/d. And while OPEC production represents 40% of
the world’s oil supply, the EIA predicts OPEC production to drop significantly
in 2013. On the other hand, the Administration forecasts
2013 North American production to rise more than any other oil-producing region
in the world. The EIA also predicts
global oil consumption to rise 0.9 million bbl/d to 89.94 million bbl/d. Roughly half of this increase is due to
Chinese oil consumption, which is predicted to climb 0.76 million bbl/d.
About TeachingwithData.org
TeachingWithData.org is a partnership between the Inter-university Consortium for Political and Social Research (ICPSR) and the Social Science Data Analysis Network (SSDAN), both at the University of Michigan. The project is funded by NSF Award 0840642, George Alter (ICPSR), PI and William Frey (SSDAN), co-PI.
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