U.S. Monthly Crude Oil Production Hits 20-Year High
Crude oil production in the United States surpassed 7 million barrels per day (bpd) in November last year, the first time since December 1992 that output reached that level. According to numbers released by the U.S. Energy Information Administration today, the U.S. produced 7.013 million bpd in November and 7.030 million bpd in December.
Driven largely by increased production of “unconventional” or “tight” oil from the Bakken Shale in North Dakota and Montana, and Eagle Ford in Texas, U.S. crude oil production has been on a steady climb annually since 2008. (See related: “Photos: Bakken Shale Oil Boom Transforms North Dakota” and “Oil Train Revival: North Dakota Relies on Rail to Deliver Its Crude“) Overall output for 2012, at