US Crude oil production up over 20% or about 1.2 million bpd from the same time last year

US daily crude oil production increased by 118,000 bpd to 7.326 millions bpd. This is an increase of over 20% (1.2 million bpd) from the same time last year.

Getting to over 7.5 million bpd will be a crude oil production level last seen in the late 1980s. (This is likely to happen this summer)

Adding another 1.2 million bpd would put US crude oil production in the 8.5 million bpd range. This would be the highest levels since the 1980s. This is likely to happen in 2014.

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