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crude oil production

Is the U.S. Running Out of Crude Oil Storage?

March 16, 2015 by Robert Rapier

Crude Oil Storage Capacity

Despite the popular narrative that we keep hearing, the U.S is not running out of crude oil storage. Yet there are those who are predicting that oil prices are going to fall to $20 or $30 a barrel, pointing to the crude oil storage numbers and suggesting that we are near maximum capacity and price collapse is imminent.[read more]

Energy Quote of the Day: "OPEC Cannot Continue Protecting a Certain Price"

January 20, 2015 by Jared Anderson

OPEC and Price Protection

Implicitly or explicitly OPEC countries are battling with US oil producers over the commodity price. There is much evidence to suggest that given US production growth volumes and weak global demand, OPEC could only marginally impact prices by cutting production.[read more]

Energy Quote of the Day: "Baloney and Rubbish"

January 17, 2015 by Jared Anderson

Oil Price Collapse and Producer Action

Saudi prince Alwaleed bin Talal made headlines this week when he stated oil prices would never again exceed $100 per barrel. Surely several analysts would advise him to “never say never,” but the prince also spoke about allegations that Saudi Arabia is deliberately forcing down oil prices in order to hurt Russia.[read more]

Despite Lower Crude Oil Prices, U.S. Crude Oil Production Expected to Grow in 2015

December 21, 2014 by U.S. EIA: Today in Energy

Oil Prices and Future Drilling

The recent decline in crude oil prices has created the potential for weaker crude oil production. EIA's Drilling Productivity Report includes indicators that provide details on the effect low prices may have on tight oil production, which accounts for 56% of total U.S. oil production.[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]

Five States and the Gulf of Mexico Produce More than 80% of U.S. Crude Oil

April 8, 2014 by U.S. EIA: Today in Energy

States and Crude Oil Production

Five states and the Gulf of Mexico supplied more than 80%, or 6 million barrels per day, of the crude oil (including lease condensate) produced in the United States in 2013. Texas alone provided almost 35%, according to preliminary 2013 data released in EIA's March Petroleum Supply Monthly.[read more]


Should the U.S. Allow Increased Domestic Crude Oil Exports?

April 8, 2013 by John Miller

U.S. domestic crude oil production has increased significantly in recent years. Would exporting some of this new domestically-produced crude oil be in the best interests of the U.S. overall?[read more]

Crude Production Rise: Credit Where Credit’s Due

June 13, 2012 by Mark Green

Vadim Ponomarenko/Shutterstock

Last week the Energy Information Administration (EIA) told us that U.S. crude oil production in the first quarter of the year topped 6 million barrels per day (bbl/d) for the first time in 14 years. EIA’s chart:EIA’s analysis:“Strong growth in U.S. crude oil production since the fourth quarter of 2011 is due mainly to higher output from...[read more]

Canadian Oil Sands Could Lead U.S. Oil Imports This Year

June 23, 2010 by Mike Gregory

Canadian oil sands are a growing source of petroleum, and by the end of this year, they'll probably be the leading source of crude oil imports into the United States, according to a new study by IHS CERA. Canada is already the primary source of crude oil imports into the United States, and the country has been steadily increasing its...[read more]

Why peak oil "doesn’t matter"

November 17, 2009 by Big Gav

The SMH has a beginner's introduction to peak oil, claiming geological limits "don't matter" because economic limits kick in first - Why peak oil doesn’t matter.There’s only one reason why you’d invest in the oil and gas sector; because you’re confident that, over the long term, the price of oil is going to rise.In this piece, and the...[read more]