OEF Rapid Review Articles
U.S. field production of crude oil increased in 2015 for the seventh consecutive year, reaching 9.42 million barrels per day. This was the highest crude oil production level since 1972. In 2015, production gains were highest in Texas, the Gulf of Mexico, and North Dakota, as these three regions accounted for 77% of the country’s total increase. Although annual production for 2015 grew, monthly U.S. crude oil production has declined since April 2015. Lower oil prices led to slower development activity, and production fell to 8.74 million b/d in August 2016.
LINK TO THE SOURCE ARTICLE:
EIA: U.S. Oil Production In 2015 Highest Since 1972
LINK TO THE SOURCE ARTICLE:
EIA: U.S. Oil Production In 2015 Highest Since 1972