Repost from The U.S. Energy Information Administration (EIA)TODAY IN ENERGY: Friday, December 12, 2014
Despite lower crude oil prices, U.S. crude oil production expected to grow in 2015
The recent decline in crude oil prices has created the potential for weaker crude oil production. EIA’s Drilling Productivity Report includes indicators that provide details on the effect low prices may have on tight oil production, which accounts for 56% of total U.S. oil production. Analyzing these indicators and the changes in oil production following the drop in crude oil prices during the 2008-09 recession may offer some insight into possible near-term oil production trends.