The U.S. government sees nationwide oil production jumping above 11 million barrels a day much quicker than anticipated.

Crude popped above $65 a barrel for the first time in more than three years after U.S. crude stockpiles fell for a 10th week in the longest stretch of declines on record.

U.S. crude production will soar to a record this year before rising even more in 2019, according to a government forecast published Jan. 9.

The Trump administration is proposing to open almost all U.S. coastal waters to oil drilling, including those off California and Florida where activists have fought for decades to spare delicate ecosystems from oil spills.

Oil climbed to the highest level in more than two years on estimates that U.S. crude stockpiles fell for a seventh week, while unrest continued in OPEC’s third-biggest producer.

Oil traded near $57 a barrel for a third day before data expected to show that surplus crude inventories in the U.S. continued to diminish as global markets rebalance.

Big Oil’s slump is over and industry domination beckons, according to Goldman Sachs Group Inc.

An energy transition is underway. Solar and wind are being added in ever-greater numbers. Electric vehicles are becoming more commonplace. Meanwhile, policy makers are grappling with the right mix of policies to pay for it all.

Oil climbed to a two-year high as U.S. industry data showed crude stockpiles resumed declines and investors awaited a decision by OPEC on extending output cuts.

Oil rose to the highest level since early January in New York on expectations that government data will confirm another drop in U.S. crude inventories as the global surplus recedes.