The EIA is now reporting that U.S. field production of crude oil averaged almost 8.7 million barrels a day in 2014. That’s up 1.2 mb/d from 2013, and is only 0.9 mb/d below the all-time U.S. peak in 1970. Production of oil by means of fracturing shale and other tight formations is the main reason. … Continue reading U.S. oil production still surging