America’s Oil & Gas Industry on Pace for a Record Smashing Year in 2018

Energy companies in America are on pace to produce 10.8 million barrels of oil per day (BPD) this year, according to a forecast by the U.S. Energy Information Administration (EIA). Not only would that sandwich the country between Russia and Saudi Arabia as one of the three largest oil producers in the world, but it would smash the record of 9.6 million BPD set in 1970. It marks a remarkable comeback for a country that had seen its output steadily decline for more than two decades before embarking on an epic rebound out of the ashes of the 2008-9 financial crisis.


Source: Fox Business