EIA: US oil production reaches all time high in 2014
The increase was attributed to higher production from North Dakota, Texas and New Mexico, where oil is derived from shale gas.
Previously, the EIA reported that they raised their 2015 forecast for oil production in the US to 9.35 million barrels per day (bpd) in 2015, an upward revision from last month’s forecast of 9.3 million bpd. However, for 2016, the EIA revised its forecast for US oil production downwards to 9.49 million bpd from a previous estimate of 9.52 million bpd.
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