Site icon Iran Times

US oil output up:

Imports will account for about 42 percent of US oil consumption this year, the lowest in 20 years, according to the US Energy Information Administration (EIA).  In 2005, imports topped 60 percent of US consumption, so the change is very dramatic.  The higher oil output is primarily due to extraction from shale formations in North Dakota and Texas.  At 1.8 million barrels a day, Texas now out-pumps five of OPEC’s 12 member states.

Exit mobile version