San Antonio Business Journal | Sergio Chapa
The U.S. is now the world’s largest oil producer powered by Texas shale.
Production in the nation’s shale basins has helped the U.S. surpass Russia and Saudi Arabia to become the world’s largest crude oil producer, preliminary figures from the Energy Information Administration show. EIA officials attributed U.S. production growth to increased production in the nation’s shale basins as well as increased offshore activity in the Gulf of Mexico. Production in U.S. shale basins accounts for more than 7.4 million barrels of crude oil per day. The Permian Basin of West Texas accounts for nearly 3.4 million barrels of crude oil per day, the Eagle Ford Shale of South Texas with 1.4 million barrels per day, and the Bakken Shale of North Dakota with 1.3 million barrels per day, the latest EIA figures show.