by WorldTribune Staff, January 28, 2019 Driven by a continued shale boom, the United States is on track to produce more crude oil and liquids than Russia and Saudi Arabia combined by 2025, an energy consultancy said. In 2018, the U.S. passed Russia and OPEC-leader Saudi Arabia to become the largest crude oil producer. America’s […]
CELEBRATING 20 YEARS OF EXCELLENCE: Countdown: Top stories of 2018 by WorldTribune Staff, December 24, 2018 What is believed to be the largest oil and natural gas reserve ever assessed in the United States has been discovered in Texas and New Mexico, according to the U.S. Geological Survey (USGS). The Wolfcamp Shale and overlying Bone […]
by WorldTribune Staff, June 1, 2018 U.S. crude oil production hit 10.47 million barrels per day in March, the highest on record according to the Energy Information Administration (EIA). U.S. production had shattered a 47-year output record in November at 10.057 million barrels per day (bpd). The U.S. government forecasts production will hit 11 million […]
by WorldTribune Staff, January 16, 2018 Spurred by a surge in shale oil, the United States is poised to break an output record that was set in 1970. U.S. oil production will soon top 10 million barrels per day and is expected to hit 11 million barrels per day by late 2019, a level that […]
by WorldTribune Staff, June 26, 2017 OPEC’s oil producer club “is facing a crisis of old age,” an industry analyst said. OPEC “is falling apart internally, confounded by the world and increasingly irrelevant,” according to Julian Lee, a senior analyst at the Center for Global Energy Studies. The two main areas where OPEC has failed […]
by WorldTribune Staff, August 1, 2016 Significant cost-cutting measures and the ability to quickly erect new rigs has enabled Texas shale oil producers to “compete with anything Saudi Arabia has,” a report said. Scott Sheffield, the outgoing chief of Pioneer Natural Resources, told Bloomberg that pre-tax production costs in the massive Permian Basin of West […]
