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US crude oil production booming

The US production of crude oil and natural gas condensate hit the highest volume in almost 30 years this past August, according to a new analysis from the US Energy Information Administration.

One has to go back almost 30 years to find a similar output of US crude oil and natural gas condensate as seen in August this year, where production surpassed 8.6 million barrels per day - a volume not seen since July 1986, according to a new analysis from the US Energy Information Administration, EIA.

More than half of the combined US production comes from basins in three different states, including Texas and New Mexico, which accounted for 1.6 million barrels per day, while another basin - also located in Texas - produced 1.57 million barrels.

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