Nov 1, 2018 - Energy & Environment
The U.S. oil boom gets even boom-ier
- Ben Geman, author of Axios Generate
Oil being extracted from the Permian Basin in Midland, Texas. Photo: Benjamin Lowy/Getty Images
Newly released federal data shows that U.S. crude oil production reached 11.35 million barrels per day in August.
Why it matters: U.S. crude production has been at record levels for a while. But this Bloomberg story captures how wild the August data is, noting the 2.1 mbd increase over August of 2017 is the largest year-over-year rise in U.S. history. And S&P Global Platts' Brian Scheid points out something interesting about the new figures: Colorado's production has now surpassed California's for the first time.