U.S. Supply Growth To Halt This Summer
Everyone knows it by now but the growth in domestic US oil production has been truly astonishing. Spurred on by high oil prices and easy credit, oil companies in Texas and North Dakota have been drilling like crazy and the result has been an inexorable rise in US domestic production.
What is remarkable is that almost all of the growth in production has been recorded in just six states, Texas, North Dakota, Oklahoma, New Mexico, Utah and Colorado.
Source EIA
This chart shows US domestic production from 1981 to 2014 and the upturn in production is striking. Even more dramatic when you focus in on just those six states.
…click on the above link to read the rest of the article…