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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

The US is so awash in oil that petroleum-rich Saudi Arabia's state-owned oil and natural gas company is reportedly interested in investing in the fertile Texas Permian Basin shale oil region.


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...

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