U.S. Oil Output Tops 12 Million Barrels a Day for First Time
- Permian crude production set to jump 50% by 2025: BloombergNEF
- Bakken supplies set to surpass record output into 2020: ESAI
An electric oil pump jack in the oil fields surrounding Midland, Texas.
Photographer: Luke Sharrett/Bloomberg
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U.S. crude output soared to new heights in April, highlighting OPEC’s dilemma just days before the producer group meets amid growing geopolitical threats.
A government report on Friday showed U.S. production grew 2.1% in April to 12.16 million barrels a day. Booming shale production from places like the Permian basin of West Texas have enabled U.S. oil output to overtake Saudi Arabia and Russia.