Posted December 26, 2013
U.S. Crude Oil Production on Track to Surpass Imports for First Time Since 1995
EIA Today in Energy: Monthly crude oil production in the United States is expected to exceed the amount of U.S. crude oil imports later this year for the first time since February 1995. The gap between monthly U.S. crude oil production and imports is projected to be almost 2 million barrels per day (bbl/d) by the end of next year—according to EIA's March 2013 Short-Term Energy Outlook.
According to EIA's projections:
- Monthly crude oil production could surpass net crude oil imports later this year.
- Monthly crude oil production is forecast to top 8 million bbl/d in the fourth quarter of 2014, which would be the highest level since 1988.
- Net crude oil imports are expected to fall below 7 million bbl/d in the fourth quarter of 2014 for the first time since 1995.
This projected change is primarily because of rising domestic crude oil production, particularly from shale and other tight rock formations in North Dakota and Texas.
Read more: http://1.usa.gov/1aaOmou
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- How Shale is Reshaping U.S. Industrial Muscle: http://bit.ly/1daVm9f
- Crude Awakening: http://hrld.us/1ijfBW6
- Half Measures Won't Fix Renewable Fuel Standard: http://bit.ly/1crisbx
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- Pittsburgh Region Enjoying Lower Energy Costs: http://bit.ly/1fK8yll
ABOUT THE AUTHOR
Mary Schaper is a Digital Communications Manager for the American Petroleum Institute. She previously worked on Capitol Hill for the Senate Energy and Natural Resources Committee as Digital Director and for Senator Lisa Murkowski. Before coming to D.C., she spearheaded digital strategy for Murkowski's successful Senate write-in campaign in 2010. Schaper enjoys traveling and taking in the local culture alongside her husband, their son and loyal springer spaniel.