The US government’s Energy Information Administration (EIA) this week released its long term (to 2040) oil supply, demand and price forecasts in the 2015 edition of its Annual Energy Outlook (AEO).

US crude oil production will peak at 10.6mn b/d in 2020, up from 8.7mn b/d for 2014 and some 1mn b/d higher than the 9.6 mn b/d (for 2019) prediction in the 2014 AEO. (CONTINUED - 1198 WORDS)