Chart data are in thousands of barrels. For 2014, the totals represent the monthly average from January through October.
Oil's steep decline was headline news again Friday, as prices of the two primary crude futures contracts were seeing their lowest points in half a decade. As has been the case of late, traders were exiting a market they fear has too much supply to support higher levels.
The chart above makes it clear that domestic oil production indeed has been surging in recent years, and the U.S. is now at around a three-decade high in terms of output. According to data from the Energy Department, 2014 appears poised to have seen the most crude production since 1986. Based on available information from January through October, American production averaged about 8.58 million barrels of crude a day, with Texas accounting for more than one-third of that, averaging 3.11 million barrels. That's nearly triple what it was four years ago in the Lone Star State.
Read more by clicking on the following: Oil production chart shows the big shale boost for U.S. - Yahoo Finance
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