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U.S. expects record domestic oil production in 2019, 2020

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The United States expects domestic oil production to reach new heights this year and next, and that prices — for both crude and gasoline — will be lower than they were in 2018.

Government forecasters are sticking to their forecast that the United States — already the world’s biggest oil producer — will become a net exporter of crude and petroleum products in 2020.

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