U.S. Daily Oil Production At Highest Level Since 1998
United States oil production is on the rise. In the first quarter of 2012, average domestic crude oil production topped 6 million barrels per day (bbl/day). This is the first time that U.S. quarterly oil production has been above the 6 million bbl/day mark since 1998. According to the U.S. Energy Information Administration, this production growth is primarily the result of increases in output in North... Read More
North America Losing Its Oil Edge?
For good or bad, from 1980-2010, North America lost some of its oil production edge. Thirty (two) years ago, this region of the world represented 20% of the world’s crude oil production. But, according to a recent report by the U.S. Energy Information Administration, North America has been slowly losing its market share. In 2010, the region represented just 15% of the world’s crude oil... Read More
U.S. Natural Gas – Spot Price Low, Inventory High
The U.S. Energy Information Administration (EIA) has released data showing the continued downward trend of natural gas prices in the United States. In the face of warmer-than-normal winter temperatures and rising domestic natural gas production, natural gas spot prices hit near 10-year lows. Subsequent to the release of these spot price data, the EIA released its projections related to natural gas... Read More
