US Crude Oil Production could pass 9 million bpd next year and reach a new all time high in crude oil and natural gas liquid production

U.S. crude oil production increased to an average of 7.5 million barrels per day (bbl/d) in July 2013, the highest monthly level of production since 1991. EIA forecasts U.S. total crude oil production will average 7.4 million bbl/d in 2013 and 8.2 million bbl/d in 2014, both about 0.1 million bbl/d higher than forecast in last month’s STEO.

Reaching 9 million bpd of crude oil would be more than any production level in the 1980s although the US did sustain a level of 8.97 million bpd throughout 1985. The highest crude oil production in the US ever was 9.6 million bpd in the early 1970s.

An absolute new all time high in US crude oil production could be achieved in 2015.

Natural gas liquids is at about 2.5 million bpd and is increasing. The combined natural gas liquids and 9 million bpd of crude oil would be past the highest ever US production of crude oil and natural gas liquids of about 11.4 million bpd.

If you liked this article, please give it a quick review on ycombinator or StumbleUpon. Thanks

Subscribe on Google News

US Crude Oil Production could pass 9 million bpd next year and reach a new all time high in crude oil and natural gas liquid production

U.S. crude oil production increased to an average of 7.5 million barrels per day (bbl/d) in July 2013, the highest monthly level of production since 1991. EIA forecasts U.S. total crude oil production will average 7.4 million bbl/d in 2013 and 8.2 million bbl/d in 2014, both about 0.1 million bbl/d higher than forecast in last month’s STEO.

Reaching 9 million bpd of crude oil would be more than any production level in the 1980s although the US did sustain a level of 8.97 million bpd throughout 1985. The highest crude oil production in the US ever was 9.6 million bpd in the early 1970s.

An absolute new all time high in US crude oil production could be achieved in 2015.

Natural gas liquids is at about 2.5 million bpd and is increasing. The combined natural gas liquids and 9 million bpd of crude oil would be past the highest ever US production of crude oil and natural gas liquids of about 11.4 million bpd.

If you liked this article, please give it a quick review on ycombinator or StumbleUpon. Thanks

Subscribe on Google News