Driven by production strength in shale and tight oil, the EIA has generally predicted crude output as ranging between 6 million and 8 million bpd over the next 30 years.

"However, under greater supply assumptions, crude oil production is sustained at a higher level of about 10 million bpd between 2020 and 2040," the EIA said in its report.

The agency's analysis sees crude output reaching 9.7