Production from America’s Permian Basin reached a record high for the third month in a row in January as a red-hot price rally keeps shale drillers busy.
Crude supply from the basin, which includes Texas and New Mexico, averaged 5.06 million barrels a day in January, surpassing the 5 million mark for the first time in data going back to 2007, according to the Energy Information Administration. The agency expects volumes to grow through March.
