Posted November 13, 2013
U.S. Crude Production Beats Imports in October, EIA Says
Bloomberg: U.S. crude oil production exceeded imports in October for the first month since February 1995, the U.S. Energy Information Administration said.
Output averaged 7.74 million barrels a day, the Energy Department’s statistical unit said in its monthly Short-Term Energy Outlook. Crude oil net imports were 7.57 million, down from 7.92 million the previous month.
Horizontal drilling and hydraulic fracturing, or fracking, have unlocked supplies in shale formations in North Dakota, Texas and other states. West Texas Intermediate, the U.S. crude benchmark, has dropped to below $95 from above $110 in September as domestic output reached a 24-year high.
Read more: http://bloom.bg/1cV6vgE
More industry news:
- EIA Sees 2014 U.S. Natgas Output Up from 2013 Record High: http://reut.rs/HRmoa3
- IEA World Outlook: Six Key Trends Shaping the Energy Future: http://bit.ly/1eJ6bSi
- Opinion: Despite Obama, U.S. the Star of World Energy Outlook: http://bit.ly/1bBSQpL
- Editorial: EPA’s Ethanol Scam: http://bit.ly/1dqCOQZ
- Gerard LTE: Still Betting on Oil and Gas: http://bit.ly/1gKyPDj
ABOUT THE AUTHOR
Mark Green joined API after a career in newspaper journalism, including 16 years as national editorial writer for The Oklahoman in the paper’s Washington bureau. Mark also was a reporter, copy editor and sports editor. He earned his journalism degree from the University of Oklahoma and master’s in journalism and public affairs from American University. He and his wife Pamela live in Occoquan, Va., where they enjoy their four grandchildren.