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Fracking threatens OPEC as oil output up

Posted on 19 February 2013

A surge in U.S. oil production has pushed the country’s output to the highest level since 1992, threatening the dominance of the Organization of Petroleum Exporting Countries.
The United States pumped 7.06 million barrels a day in the week ended Feb. 8, up 1 percent from the previous week and extending last year’s 19 percent gain, the Energy Information Administration said this week. OPEC production fell to the lowest level in a year in January, the Paris-based International Energy Agency said in its monthly report, which also came out this week…………………………………….Full Article: Source

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