U.S. oil production expected to break record soon

U.S. oil production, led by record output in Texas, has averaged more than 10 million barrels a day for the first time since 1970 as “prices rose, drillers became more efficient and export markets grew,” according to the Houston Chronicle. The newspaper says the U.S. Department of Energy recently reported that domestic crude oil production reached 10.038 million barrels a day in November 2017, just below the record of 10.044 million barrels a day in November 1970. The Chronicle says the Energy Department and industry experts expect that production record to fall soon, enabling the United States to overtake Russia and Saudi Arabia as the world's biggest oil producer by the end of 2019. For more, read the full story.

Global, National