Production from new fields in the U.S. Gulf of Mexico is helping to offset a decline in production
Production from new oil fields in the Gulf of Mexico will help the region avoid a decline in output due to natural depletion this year and next. The news comes from the Energy Information Administration, which said this year that oil output could reach 1.8 million barrels daily. To be fair, 1.8 million bpd is around the current daily average for the Gulf of Mexico, but without the new discoveries, production, it appears, would have dipped as soon as this year.
And as Americans head to the polls later this year, energy is very much on the ballot — and so is everything energy touches Jobs, America's security, manufacturing, inflation,' he also said at the January edition of State of American Energy. The comments were a reaction to a decision by the Biden administration to limit the amount of new exploration space in the Gulf.
Oil Majors Offshore Upstream Oil Production Production Decline
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