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oil boom

U.S. Commercial Crude Oil Inventories Now Provide the Most Days of Supply Since 1985

March 25, 2015 by U.S. EIA: Today in Energy

Crude Oil Inventories

With lower U.S. refinery runs and increases in domestic crude oil production, U.S. commercial crude oil inventories at the end of February provided the most days of supply since the mid-1980s. Inventories were sufficient to supply 29 days of U.S. refinery demand, based on expected refinery runs in March.[read more]

Daniel Yergin: US Oil Output Helping Avert Crisis

July 22, 2014 by Edward Dodge
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US Oil Production and Crisis Aversion

Daviel Yergin stated that if not for the recent domestic boom in tight oil production the U.S. would be in trouble. “I’m convinced we’d be looking at an oil crisis,” he said. “We’d have panic in the public. We’d have inflamed congressional hearings and we’d have the U.S. economy falling back into a recession.”[read more]

North Dakota and Texas Now Provide Nearly Half of U.S. Crude Oil Production

July 6, 2014 by U.S. EIA: Today in Energy

State Oil Production

U.S. crude production in April 2014 was 8.4 million barrels per day (bbl/d), with two states, Texas and North Dakota, accounting for nearly half of this total. Texas production topped 3.0 million bbl/d for the first time since the late 1970s, more than doubling production in the past three years.[read more]