Surging U.S. crude oil production will offset OPEC’s output cuts aimed at rebalancing the market as soon as the end of next year - undercutting the group’s efforts as shale producers ramp up output regardless of the price environment, forecasts show.

U.S. oil production in the most recent week was 11.6 million bpd a day, just off the all-time record of 11.7 million bpd, the U.S. Energy Information Administration said Wednesday. If production expands at the rate that the EIA has forecast, it will effectively eat up OPEC’s cuts by the end of 2019.

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