US Oil Facts

As you know I have cautioned about putting too much credence in the new oil deal led by OPEC because of cheating by them( they really ramped up production around the time of the deal)  and also because of the US oil production factor.

Well, even with this modest increase in prices , US production is heading up from last year’s low of 8.3 mbd to now 8.8 mbd and the UD Energy Administration says if prices remain steady to where they are now more production is likely getting over 9 mbd .

You may be interested in the breakdown of US shale oil and traditional oil . In 2015 , 51% was shale oil according to the US Energy Administration.

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