Offshore Oil Production Expected to Increase with Advanced Technology and Faster Permitting

Offshore Oil Production Expected to Increase with Advanced Technology and Faster Permitting

Oil and natural gas industry leaders expect technological advancements, streamlined permitting, and sustained investment to increase production in the U.S. Gulf of Mexico (America), where oil production could rise from 1.8 million barrels to 2.4 million barrels daily. However, to keep offshore projects viable due to rising costs from tariffs and inflation, operators must refine supply chain strategies. U.S. oil prices have been as low as in the …