U.S. Oil Production to Exceed Imports, a First Since 1995
This article is for subscribers only.
U.S. crude oil production in the fourth quarter will exceed imports for the first time since 1995, as booming fields in North Dakota and Texas put the nation on track to surpass a quarter-century output record.
The U.S. Energy Information Administration, the research arm of the Energy Department, said domestic crude production will be 2 million barrels a day higher than imports at the end of 2014, as oil from outside the U.S. is forecast to drop late in that year.