Increase in oil Production to the United States from the sparks less Reliance of OPEC

From The Daily Beast

By Miranda Green

The United States is often painted as a nation short of energy dependent on foreign countries for most of its use of oil.  But that image is changing as the country nears full energy independence.

A report released this week shows that more and more to the United States produces more crude oil within its borders. Production rose last week to its highest level since January 1992 according to a recent report by the Energy Information Administration. The week ending July 5, the United States produced 7.4 million barrels per day, up 1.8% from the week previous and the highest weekly level in more than 20 years.

The increase is due in large part to more drilling and the sharp increase in hydraulic fracturing in the United States the technique controversial fracturing, or fracking, involves drilling into rock formations to release oil embedded in shale.  Many of the American crude oil reserves are located in the Midwest and along the Plains region. Two of the largest reserves are Bakken and Eagle Ford oil fields located in the North Dakota and Texas, respectively.

Click here to read more

View the original article here