U.S. Crude Oil Production Increasing at Fastest Rate Ever

[Geee]

American Thinker:

The U.S. Energy Information Administration has released the latest field production of crude oil data, which indicates that American crude oil production has now exceeded 8.5 million barrels per day – the highest level since July 1986, and within only 1.5 million barrels per day of the all-time record set back in November 1970.

 

Between June 2013 and June 2014 (the latest data available), production grew by 1.3 million barrels per day. This is the largest year-over-year increase in U.S. history if we look critically at the production records.

 

As the chart above shows, the U.S.-EIA's oil production estimates can have a significant amount of month-to-month variability. It is not always clear whether that short-term variability is real or not.