Oil prices have fallen from historic highs reached after Russia's invasion of Ukraine, but the Biden administration is pushing for more domestic production (Axios, US News & World Report, NASDAQ). The outcome will be determined using the "4-Week Avg U.S. Field Production of Crude Oil" data (which is displayed in thousands of barrels per day) as reported by the Energy Information Administration (EIA) (EIA). A weekly figure must have its "End Date" between 6 January 2023 and 29 December 2023 to count. On 6 December 2022, the EIA forecasted domestic production would increase to 12.34 million barrels per day in 2023 (EIA Short-term Energy Outlook - December 2022).

Confused? Check our FAQ or ask us for help. To learn more about Good Judgment and Superforecasting, click here.

To learn more about how you can become a Superforecaster, see here. For other posts from our Insights blog, click here.

The question closed "More than 13,200 thousand b/d" with a closing date of 29 December 2023.

See our FAQ to learn about how we resolve questions and how scores are calculated.