The Permian Basin has long been touted as the fastest growing shale play in the United States, but now its oil-producing prowess is being highlighted again as the Energy Information Administration forecasts the prolific basin’s May production to be 3.183 million bpd—an expected 73,000 bpd rise from April. The Permian play may very well, as Bloomberg Markets suggests, become the largest oil patch in the world over the next decade. If The Permian Was Part of OPEC The United States is quickly become a major contender for top oil producer in the world, producing 10.540 million bpd as of week ending April 13. That’s more than Saudi Arabia ( 9.934 million bpd as of the latest MMOR), and just a hair below that of the world’s top producer, Russia, who produced 10.97 million bpd in March 2018, according to Russia’s Energy Ministry. Besides OPEC’s powerhouse Saudi Arabia, the next […]