US Shale Oil Hitting New Highs

 

 

US shale oil output is projected to hit above 6.5 million barrels of oil per day in February 2018 and is leading a recovery in US oil production.

Oil output from shale is projected to increase by 111,000 BOPD in February according to US Energy Information Administration. With this increase, the total shale oil output is expected to reach 6.55 million BOPD in February 2018.

US total oil production is also reaching new highs. EIA forecast that total US oil output will hit annual average of 10.3 million BOPD in 2018 and 10.8 million BOPD in 2019.

At 10.8 million barrels of daily oil production, the US would be one of the world’s top oil producers along with Saudi Arabia and Russia.

17 January 2018