U.S. Oil Production Continues To Boom

FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland Thomson Reuters

Reuters: U.S. oil output jumps to record 10.47 million barrels per day in March: EIA

(Reuters) - U.S. crude oil production jumped 215,000 barrels per day (bpd) to 10.47 million bpd in March, the highest on record, the Energy Information Administration (EIA) said in a monthly report on Thursday.

Production in Texas rose by 4 percent to almost 4.2 million bpd, a record high based on the data going back to 2005. The Permian basin, which stretches across West Texas and eastern New Mexico, is the largest U.S. oilfield.

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WNU Editor: One can only imagine what the price of oil would be today if it was not for fracking and other new technologies being employed to extract oil and natural gas.