2013 U.S. Crude Oil Production Stabilizes Global Prices

An EIA report highlights that 2013 U.S. crude oil production reached its highest level in 24 years, contributing to global oil price stability. On January 9, 2014, the Energy Information Administration (EIA) released a report showing that U.S. crude oil production witnessed a record annual growth of 1.0 million barrels per day (bbl/d) in 2013,…