Subscribe free to our newsletters via your
. Space Industry and Business News .




OIL AND GAS
Most non-OPEC oil supplies coming from the United States
by Daniel J. Graeber
Washington (UPI) Jun 12, 2013


disclaimer: image is for illustration purposes only

U.S. oil production should be the main driver of growth outside members of the Organization of Petroleum Exporting Countries, the Energy Department said.

The Energy Information Administration said in a weekly status report non-OPEC supply growth outpaced global consumption in 2013 and should do so again in 2014.

EIA, the statistical arm of the Energy Department, said Wednesday it expects production from outside OPEC to increase by 1.5 million barrels per day this year and another 1.2 million bpd in 2015 "with production from tight oil formations in the United States as the main driver."

In its monthly market report, published Tuesday, EIA said it estimated U.S. oil production in May averaged 8.4 million bpd, the highest monthly average in a quarter century.

U.S. oil production for 2014 should average 8.4 million bpd and reach 9.3 million next year, which would represent the highest annual average since 1971 if EIA forecasts are accurate.

The increase in U.S. oil production means the U.S. economy is relying less on foreign oil resources.

For the week ending June 6, EIA said crude oil imports averaged 7.1 million bpd, up 23,000 bpd from the previous week. Nevertheless, over the last four weeks, crude oil imports were down 8.1 percent year-on-year.

.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








OIL AND GAS
Kurds take Iraq's Kirkuk, bomb targets minister
Kirkuk, Iraq (AFP) June 12, 2014
Kurdish forces took control of the disputed Iraqi oil hub of Kirkuk on Thursday to protect it from jihadists, after which a bomb targeted a Kurdish security minister, officials said. Iraqi Kurds want to incorporate Kirkuk province into their autonomous region, a move Baghdad strongly has strongly opposed in a bitter, long-running dispute with them. "We tightened our control of Kirkuk cit ... read more


OIL AND GAS
Breakthrough for information technology using Heusler materials

PlayStation lets Sony grab for home entertainment crown

3D printer cleared for lift-off to ISS in August

Augmented reality puts players into video game action

OIL AND GAS
UK Connects with Allied Protected Communication Satellites

Raytheon awarded contratc for USAF FAB-T satellite terminal program

NGC Offers High Power GaN Amplifiers for Ka-band Terminals

Mutualink's Fusion Kit Enables On-the-Go Interoperability

OIL AND GAS
Russian Soyuz-2.1b rocket to undergo final testing

Lie detector exposes sabotage of Proton-M booster

Move fast on rocket choice, Europe space chief says

SpaceX sues USAF, citing unfair contractor monopoly

OIL AND GAS
Russia may join forces with China to compete with US, European satnavs

Russia Says GLONASS Accuracy Could Be Boosted to Two Feet

Northrop Grumman tapped for new miniature navigation system

Northrop Grumman To Develop Miniaturized Inertial NavSystem

OIL AND GAS
100 days after MH370, Malaysia vows to keep searching

China Eastern to buy 80 Boeing 737s

Canada to choose new fighter jets in coming weeks

Airbus delivers C295 to Ecuador

OIL AND GAS
A faster path to optical circuits

2D Transistors Promise a Faster Electronics Future

EMCORE Introduces Internal Fiber Delay Line System for the Optiva Platform

New analysis eliminates a potential speed bump in quantum computing

OIL AND GAS
SpyMeSat Mobile App Now Offers High Resolution Satellite Imagery

US Dept of Commerce Relaxes Resolution Restrictions on DigitalGlobe

Google buys satellite imaging firm for $500 mn

Ten year-old Dragon gains new strength

OIL AND GAS
Chinese conservation group builds pollution monitoring app

Pollution-ridden Bangladesh unveils green tax in budget

Less than 5 percent of Chinese cities meeting air quality standards

New pollution rules will reduce asthma, heart attacks: Obama




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.