Gulf of Mexico crude oil production hits record high

The US Energy Information Administration (EIA) report released earlier this week, showed that crude oil production in the Gulf of Mexico (GOM) set an annual high of 1.6 million barrels per day (b/d) in 2016, surpassing the previous high set in 2009 by 44,000 b/d, as reported by gCaptain.com

In January 2017, GOM crude oil production increased for the fourth consecutive month, reaching 1.7 million b/d.

On an annual basis, oil production in the GOM is expected to continue increasing through 2018, based on forecasts in EIA’s latest Short-Term Energy Outlook (STEO).