‘ Future of US Oil & Gas industry – 2035’
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OIL production in the United States rose by a record 992,000 barrels a day in 2013, the International Energy Agency estimated this week.
“We keep raising our forecasts, and we keep underestimating production,” said Lejla Alic, a Paris-based analyst with the agency.
The increase left United States production at 7.5 million barrels a day, with both November and December production estimated to have been over eight million barrels a day.
American consumption of oil also rose last year, by 390,000 barrels a day, or 2.1 percent, to 18.9 million barrels a day. The agency increased its estimate of American oil use in the final quarter of the year, although it lowered its estimate of the increase in some other countries, including China. Over all, world consumption rose 1.4 percent, making 2013 the first year since 1999 that the use of oil in the United States rose more rapidly than in the rest of the world.