US oil production booms as new year begins
Shale oil drillers have spawned a revolution using high-pressure drilling, while the Trump administration approves Keystone XL pipeline and considers loosening offshore drilling rules
Washington
US crude oil production is flirting with record highs heading into the new year, thanks to the technological nimbleness of shale oil drillers who have unleashed the crude bonanza.
The current abundance has erased memories of 1973 petrol lines, which raised pump prices dramatically, traumatising the US and reordering its economy. In the decades since, presidents and politicians have mouthed platitudes calling for US energy independence.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
ExxonMobil to take 18 to 24 months to hit full stride with Pioneer purchase
Oil settles down on US jobs data, steepest weekly loss in three months
Glencore Group nears deal for Shell’s Singapore oil refinery
Opec+ may need to tackle oil capacity conundrum next month
Gold flat ahead of US payrolls data, set for second weekly drop