Sectors

Regions

Sections

Forecasts & Analysis

Market commentary

Reference & Archive

Exploration & Production

US hydrocarbons continue their relentless rise

As OPEC loosens the reins on oil production, output of oil, gas and NGLs from the US continues to hit record highs – and further gains are expected over the summer As OPEC loosens the reins on oil production, output of oil, gas and NGLs from the US continues to hit record highs – and further gains are expected over the summer.
By Peter Stewart 25 July 2018 0 31884
Shale drilling in Pennsylvania. (Helge Hansen, Statoil)

Crude oil production in the United States hit 11 million barrels per day (MMb/d) in mid-July, its highest level since the Energy Information Administration (EIA) started taking records in 1983, weekly data from the body shows. The latest figures reflect a 1.57 MMb/d gain on an annual basis, largely the result of higher output from the Permian Basin. 

Dry gas production in the US amounted to 200 billion cubic metres in Q1 2018, an increase of 10% from the same quarter a year earlier. Meanwhile, NGL...