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EIA: Gulf Oil Production Set For Rebound

Posted on 08 May 2014

Oil production in the Gulf of Mexico is on the road to recovery, with next year’s projected level on pace to end a four-year slump. The U.S. Energy Information Administration (EIA) said total crude oil production is expected to average 8.5 million barrels per day this year, a 14 percent increase from the previous year.
Much of the success story for U.S. oil has come from inland shale basins in Texas and North Dakota. For February, the last full month for which data are available from the EIA, Texas produced 81.8 million barrels of oil, a 24 percent increase year-on-year. North Dakota’s 26.6 million barrels produced in February was 22 percent higher than in February 2013………………………………………..Full Article: Source


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