U.S. oil production has returned to its record high point, 47 years after the previous peak during the final days of the last Texas oil boom, as the shale revolution that was temporarily set back by low crude prices has reignited.

The government’s Energy Information Administration estimated on Jan. 31 that U.S. output was running at just under 10.04 million barrels per day (MMbbl/d) last November, fractionally below the previous record set in November 1970.

Soaring output from shale wells has put the U.S. on course to overtake Saudi Arabia and Russia to become the world’s largest crude producer, shaking up oil markets and the geopolitics of energy.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access