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Booming again: U.S. poised for record oil output in 2018

NEW YORK (CNNMoney) -- The American oil industry may be on the cusp of an incredible revival.

Following a painful war with OPEC, U.S. oil output is poised to rebound this year, thanks to healthier prices and a strengthened business model.

That could set the stage for America to set a record-breaking 2018, taking out the all-time oil production high set in 1970, according to new forecasts published this week by the U.S. Energy Information Administration.

The U.S. oil comeback

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