Production from new oil fields in the Gulf of Mexico will help the region avoid a decline in output due to natural depletion this year and next. The news comes from the Energy Information Administration, which said this year that oil output could reach 1.8 million barrels daily. To be fair, 1.8 million bpd is around the current daily average for the Gulf of Mexico, but without the new discoveries, production, it appears, would have dipped as soon as this year. These new fields would also help push GOM crude oil production to 1.9 million barrels…
