The Future Of U.S. Oil Relies On A Single Play

U.S. oil production recently broke another record, jumping to 10.619 million barrels per day (mb/d) in the last week in April, and the sky seems to be the limit for U.S. shale drillers. However, the fate of U.S. oil, and ultimately a large slice of total additional output for the entire world, is all predicated on aggressive forecasts from one place: the Permian Basin. Total global oil production is expected to rise by 6.4 mb/d by 2023, according to the International Energy Agency. Offshore Mexico and Brazil are set to see higher levels of spending…

via Daily News Update

Categories: Energy