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    Friday, November 27, 2009

    U.S. Oil Production To Rise The Most In 39 Years

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    By Moming Zhou
    MarketWatch Pulse
       

      NEW YORK - This year's U.S. crude oil production is on track to show its biggest year-on-year jump since 1970, an analysis of historical data by Platts showed Friday. If the 5.268 million barrels a day of average production level, recorded in the first ten months of the year, holds through December, this year's output will rise 6.4% from 2008, the Platts analysis of Energy Information Administration data showed. This year's production level will be the highest since 2004, when output averaged 5.419 million barrels a day. Peak oil production was recorded in 1970, when the U.S. produced 9.637 million barrels of oil.

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