Crude Oil Production in Permian Basin to Surge to 1.82 Million BPD by 2016

Reuters reported that according to Bentek, by 2016, crude oil production in the Permian basin will surge to 1.82 million BPD from 1.29 million BPD.

As quoted in the market news:

Output will surpass existing pipeline capacity by early next year, Bentek added, while noting some 1 million bpd of new takeaway capacity is slated to come online by the end of 2014.

Click here to read the full Reuters report.