US oil could add the equivalent of Saudi Arabia’s total production over the next 10 years if a favourable price environment persists, according to a report by Rystad Energy quoted by Bloomberg. Even in a price scenario of $55 a barrel the consultant sees America’s oil output growing by about 5.7mn bpd to 16.5mn bpd by 2030, and unlocking a further 5.3mn bpd at $75 barrels. This would also result in “faster acceleration of base decline and earlier plateau in production,” it said in the report.
