U.S. crude oil production hit 12 million barrels per day in mid-February, according to the Energy Information Administration’s (EIA) latest report.
EIA’s weekly petroleum report, for the week ending Feb. 15, showed crude output jump more than 1.7 million barrels per day compared to the same time in 2018 — from roughly 10.3 million barrels per day to 12 million barrels per day.
“U.S. oil and natural gas production is breaking every record in the book, which helps families and businesses and our national security across the board,” Dan Kish, a distinguished senior fellow at the Institute for Energy research, told The Daily Caller News Foundation.
Indeed, drillers continue to beat analysts’ expectations. For example, EIA’s November 2018 energy forecast didn’t see oil output hitting 12 million barrels per day until mid-2019. The month before, EIA didn’t see the U.S. hitting that milestone until the fourth quarter of 2019. more here