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US oil output to surpass imports this year: EIA

Posted on 21 March 2013

The US will produce more oil than it imports beginning late this year for the first time in 18 years, the Energy Information Administration said Wednesday. Helped by a surge in shale-based output, monthly crude production has pushed past seven million barrels a day and could reach eight million barrels a day by the beginning of 2014.
Imports meanwhile have dropped below eight million barrels a day and should fall below domestic output by the end of 2013, the EIA said………………………………………..Full Article: Source


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