U.S. Oil Production Reaches 24-Year High

[Stay on top of transportation news: .]

Crude oil production in the United States rose last week to the highest level since May 1989, the Department of Energy said.

Production grew by 1.6%, or 124,000 barrels, to 7.745 million barrels a day in the week ended Sept. 6, DOE’s Energy Information Administration said in a Sept. 11 report. It partially credited hydraulic fracturing in areas such as North Dakota and Texas for bringing the level to historic highs.

Rising domestic production has reduced the need for the United StatesÌýto import oil, EIA said. The cy met 87% of its demand for oil in the first half of 2013, a share EIA expects to rise.

Ìý

Trending

Newsletter Signup

Subscribe to Transport Topics

 

Hot Topics