U.S. Domestic Crude Oil Output Highest in 8 Years

- February 8th, 2012

Bloomberg reported that U.S. domestic crude oil output is highest in 8 years as it rose to 3.6 percent in 2011.

Bloomberg reported that U.S. domestic crude oil output is highest in 8 years as it rose to 3.6 percent in 2011.

As quoted in the market news:

Domestic crude oil production rose 3.6 percent last year to an average 5.7 million barrels a day, the highest since 2003, according to the Energy Department. Natural gas output climbed to 22.4 trillion cubic feet in 2010 from 20.2 trillion in 2007, when the Federal Energy Regulatory Commission warned of the need for more imports. Prices have fallen more than 80 percent since 2008.

Click here to read the full Bloomberg report.

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