Wednesday, July 25, 2018
As the ongoing boom in shale production continues to drive output, U.S. crude oil production hit 11 million barrels per day for the first time in the nation’s history, according to a statement made by the Energy Department on July 18.
Since November, U.S. production has increased nearly 1 million barrels per day due to a rapid increase in shale drilling, according to Oil and Gas Investor. Crude inventories increased 5.8 million barrels in the week to July 13, compared with analysts’ expectations for a decrease of 3.6 million barrels.
If the recent data is confirmed, the rapid increase in output puts the U.S. just behind Russia as the world’s largest producer of crude oil.
Learn more: Oil and Gas Investor > US Crude Stocks Up As Oil Production Hits New Record
Farm and Dairy, a weekly newspaper located in Salem, Ohio, has been reporting on topics that interest farmers and landowners since 1914. Through the Shale Gas Reporter, we are dedicated to giving our readers unbiased and reliable information on shale gas development.
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