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Offshore production nearly 30% of global crude oil output in 2015

According to EIA, the global offshore oil production in 2015 was at the highest level since 2010, and accounted for nearly 30% of total global oil production. In both 2014 and 2015 offshore oil production increased, reversing consecutive annual declines from 2010 to 2013. Production from onshore tight oil plays has increased faster over the past several years and accounts for an increasing amount of total oil production.

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EIA projects rise in U.S. crude oil and liquid fuels production

The U.S. Energy Information Administration projects that U.S. petroleum and other liquid fuels production, which in addition to crude oil and condensate production includes natural gas plant liquids derived from natural gas processing as well as biofuels and volume gain at refineries, is projected to grow from 14.8 million barrels/day (b/d) in 2015 to 18.6 million b/d in 2040 in its Annual Energy Outlook 2016 (AEO2016) Reference case.

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