Tue, Jan 27, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Oil, Resources more

Shale boom sends U.S. crude supply to highest since 1930s

Posted on 24 April 2014

The U.S. is stockpiling the most crude since the Great Depression, thanks to the shale boom that has boosted production to the most in 26 years. Inventories rose 3.52 million barrels last week to 397.7 million, the highest level since 1931, according to Energy Information Administration data going back to 1920.
Crude output climbed 59,000 barrels a day to 8.36 million, the most since January 1988, as the combination of horizontal drilling and hydraulic fracturing, or fracking, unlocked supplies from shale formations in the central U.S., including the Bakken in North Dakota and the Eagle Ford in Texas………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 38982 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
January 2015
S M T W T F S
« Dec    
 123
45678910
11121314151617
18192021222324
25262728293031