US number one in oil production and Texas would be world number 3

Texas oil output (Permian and Eagle Ford) is expected to 5.6 million barrels per day in 2019, according to HSBC. Texas will be more nearly half of America’s total crude oil production. EIA forecasts US oil production to average 11.8 million barrels per day in 2019.

Texas oil production would make it the number three oil producing country. Only Russia and Saudi Arabia produce more oil.

logo

Don’t miss the latest future news

Subscribe and get a FREE Ebook