U.S. oil output to surpass Saudi and Russia combined by 2025

U.S. oil output to surpass Saudi and Russia combined by 2025

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 […]

‘Christmas came early’: New energy reserve may be largest ever in U.S.

‘Christmas came early’: New energy reserve may be largest ever in U.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 […]

With House majority, Democrats could threaten fracking industry

With House majority, Democrats could threaten fracking industry

by WorldTribune Staff, November 13, 2018 House Democrats are expected to take aim at the fracking industry that has been a major boon to the U.S. economy and despite its excellent safety record, a columnist noted. “Energy production on public lands in the American West is likely to come under increased scrutiny” when Democrats assume […]

U.S. oil production sets new records, prices decline

U.S. oil production sets new records, prices decline

by WorldTribune Staff, November 9, 2018 U.S. crude oil production hit a record 11.6 million barrels day as domestic prices sunk to their lowest levels since March, the U.S. Energy Department said on Nov. 7. U.S. oil prices fell to $62 a barrel on Nov. 7. The last time the U.S. oil benchmark settled below […]

U.S. crude oil production breaking all-time records

U.S. crude oil production breaking all-time records

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 […]

OPEC backs 10- to 20-year oil deal between Saudi and Russia

OPEC backs 10- to 20-year oil deal between Saudi and Russia

by WorldTribune Staff, March 29, 2018 A deal between Saudi Arabia and Russia that could extend the two nations’ control over crude oil supplies for the next two decades has OPEC’s blessing. Saudi Crown Prince Mohammed Bin Salman told Reuters earlier this week: “We are working to shift from a year-to-year agreement to a 10-20 […]

‘Gamechanger’: U.S. crude oil production hit a five-decade high in 2017

‘Gamechanger’: U.S. crude oil production hit a five-decade high in 2017

by WorldTribune Staff, February 20, 2018 In November 2017, U.S. crude oil production hit 10.038 million barrels per day, a level that had not been reached since 1970. “American crude oil is a gamechanger in international trade, global politics and domestic energy security,” Todd Staples, president of the Texas Oil & Gas Association, said in […]

U.S. oil boom in 2018 seen having major economic impact

U.S. oil boom in 2018 seen having major economic impact

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 […]