Wednesday, August 7, 2013

Saudi crude oil production fell to a year low

As U.S. crude oil production soared, coupled with weakening economic growth to curb demand,unconventional gas Saudi Arabia has oil production fell to its lowest level in a year. The details of the Saudi production is declining dramatically OPEC (OPEC) meeting in Vienna on the eve been announced. This release large amounts of hydraulic fracturing of shale oil and  shale gas  production brought about by the surge in U.S. energy contrast. U.S. government yesterday released the latest estimates show that in the United States increased by 76 million barrels of oil per day, which is the U.S. began commercial exploitation of crude oil in 1859, the largest annual increase in production since. Person in charge of the U.S. Energy Information Administration said that Adam Ximingsiji, North Dakota, Montana and Texas dense shale drilling increases "will make next year the United States crude oil output since 1992, the first time exceeded 7,000,000 barrel. "in the meantime, fracturing proppant the day before the OPEC meeting in Vienna released data show that in November, Saudi crude oil output of 950 million barrels, the lowest level since a year, in June this year, well below the 30-year record of daily maximum yield 1010 barrels record. Saudi Arabia cut makes OPEC in November dropped to 3078 million barrels of daily production.

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