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US oil production

Lower 48 Oil Production Outlook Stable Despite Expected Near-Term Reduction in Rig Count

February 1, 2015 by U.S. EIA: Today in Energy

National Oil Production Outlook

The sharp decline in oil prices over the last quarter of 2014, which has continued in January, is already having a significant effect on drilling activity in the United States, as shown by the 16% decline in the number of active onshore drilling rigs in the continental United States.[read more]

Energy Quote of the Day: The Bet is About the Timing of an Oil Price Rise, Not About If it Will Occur

January 15, 2015 by Jared Anderson

Oil Price Recovery Timing

There is abundant speculation about how much further oil prices might fall and when US oil production growth will begin to decline. The consensus among analysts and investors is that oil prices are likely to reverse course and start trending upward sometime later this year or next. The question is when.[read more]

Energy Quote of the Day: 'Texas & North Dakota Now Account for Almost Half of Total US Oil Production'

July 11, 2014 by Jared Anderson

Texas and North Dakota Production

The Energy Information Administration’s latest Short-term Energy Outlook is out and United States crude oil output continues to soar, while natural gas prices are expected to climb back toward the $5 per million BTU level this year, before slightly pulling back in 2015.[read more]

Oil Production: The U.S. is Looking at Saudi Arabia in the Rearview Mirror

July 9, 2014 by Sarah Battaglia

As Americans, we naturally strive to become number one. Our country has already dominated a handful of categories and achieved recognition for things like the most patents, and the most Olympic medals. Now we can be proud of a new achievement: largest oil producer in the world.[read more]

Tight Oil-Driven Production Growth Reduces Need for US Oil Imports

April 12, 2014 by U.S. EIA: Today in Energy

Oil Production and Import Changes

In the Annual Energy Outlook 2014 (AEO2014) Reference case, crude oil production rises from 6.5 million barrels per day (MMbbl/d) in 2012 to 9.6 MMbbl/d before 2020, a production level not seen since 1970. Tight oil production growth accounts for 81% of this increase.[read more]