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oil boom

U.S Oil Production Growth in 2014 was Largest in More than 100 Years

April 3, 2015 by U.S. EIA: Today in Energy

Oil Production Boom

U.S. crude oil production (including lease condensate) increased during 2014 by 1.2 million barrels per day (bbl/d) to 8.7 million bbl/d, the largest volume increase since record keeping began in 1900. On a percentage basis, output in 2014 increased by 16.2%, the highest growth rate since 1940.[read more]

U.S. Commercial Crude Oil Inventories Now Provide the Most Days of Supply Since 1985

March 25, 2015 by U.S. EIA: Today in Energy

Crude Oil Inventories

With lower U.S. refinery runs and increases in domestic crude oil production, U.S. commercial crude oil inventories at the end of February provided the most days of supply since the mid-1980s. Inventories were sufficient to supply 29 days of U.S. refinery demand, based on expected refinery runs in March.[read more]

Daniel Yergin: US Oil Output Helping Avert Crisis

July 22, 2014 by Edward Dodge

US Oil Production and Crisis Aversion

Daviel Yergin stated that if not for the recent domestic boom in tight oil production the U.S. would be in trouble. “I’m convinced we’d be looking at an oil crisis,” he said. “We’d have panic in the public. We’d have inflamed congressional hearings and we’d have the U.S. economy falling back into a recession.”[read more]

North Dakota and Texas Now Provide Nearly Half of U.S. Crude Oil Production

July 6, 2014 by U.S. EIA: Today in Energy

State Oil Production

U.S. crude production in April 2014 was 8.4 million barrels per day (bbl/d), with two states, Texas and North Dakota, accounting for nearly half of this total. Texas production topped 3.0 million bbl/d for the first time since the late 1970s, more than doubling production in the past three years.[read more]