Outlook (STEO), the US Energy Information Administration (EIA) projects that US crude oil production, which averaged an estimated 8.9 million barrels per day (b/d) in 2016, will average 9.2 million b/d in 2017 and 9.9 million b/d in 2018. That level is higher than originally forecast, exceeding the previous record level of 9.6 million barrels per day reached in 1970, said EIA Acting Administrator Howard Gruenspecht. For summer 2017, EIA forecasts motor gasoline consumption to average 9.5 million barrels per day (b/d), up about 20,000 b/d (0.3%) compared with last summer, which was a record high. Highway travel is forecast to be 1.4% higher than the level last summer. The effect of the increase in highway travel is expected to be partially offset by a 1.2% increase in […]