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January 09, 2013

US Daily Crude Oil Production Above 7 million bpd for the first time since March, 1993

US daily crude oil production was over 7.0 million bpd for the first time since March, 1993

US crude oil production was 7.002 million bpd for the week ending Jan 4, 2013

Ethanol, natural gas liquids and refinery gains were 4.486 million bpd.



The EIA energy shortterm energy outlook is for crude oil production to continue to increase to 7.3 million bbl/d in 2013 and 7.9 million bbl/d in 2014, which would mark the highest annual average level of production since 1988.



An annual projection of 7.3 million bpd for 2013 means starting at 7.0 and ending at about 7.6 million bpd by the end of the year.

An annual projection of 7.9 million bpd for 2014 means starting at 7.6 and ending at about 8.2 million bpd by the end of that year.

The most US crude oil production going back to 1983 was just short of 9.0 million bpd.


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