US crude oil production has reached a record high of 11 million barrels per day, a 16% rise since the beginning of 2018, to surpass Russia as the world’s largest producer of crude oil. The growing US shale oil market is expected to boost the figures further having achieved positive free cash flow for investors for the first time. " Investments were up 60% last year and are expected to be up another 20-25% in 2018. Oil prices have been on an upward trend in recent months and are now trading at their highest level since mid-2014.
US crude oil production has reached a record high of 11 million barrels per day, a 16% rise since the beginning of 2018, to surpass Russia as the world’s largest producer of crude oil. The growing US shale oil market is expected to boost the figures further having achieved positive free cash flow for investors for the first time. Oil prices have been on an upward trend in recent months and are now trading at their highest level since mid-2014.