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US Crude Production Surges On Shale Boom

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May 16, 2014

U.S. crude production climbed to a 28-year high last week as the shale boom moved the world’s biggest oil-consuming country closer to energy independence Bloomberg said May 14.

Output rose 78,000 barrels a day (bbl/d) to 8.428 million, the most since October 1986, according to Energy Information Administration (EIA) data. The combination of horizontal drilling and hydraulic fracturing, or fracking, has unlocked supplies from shale formations in the central U.S., including the Bakken in North Dakota and the Eagle Ford in Texas.

“This is an incredible phenomena that looks set ...

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