In a recent post , I wrote that the U.S. would almost certainly set a new oil production record this year. I noted that the most recent data from the Energy Information Administration (EIA) showed that last November U.S. oil production exceeded 10 million barrels per day (BPD) for the first time since 1970. Last week the EIA revised November’s oil production upward, which pushed it into the #1 spot for monthly production. The revision increased U.S. oil production in November to 10.057 million BPD, just edging out the previous record of 10.044 million BPD from November 1970. (Click to enlarge) U.S. monthly oil production However, many new records should be set this year, as the EIA projects that oil production will reach 11 million BPD by year-end. This would push the U.S. into first place among the world’s oil producers. But depending on how it is measured, the […]