- October 1, 2014: Vol. 1, Number 1

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Texas Surpasses European Continent in Oil Production


Oil production in Texas has surged through 2014, and at 2.9 million barrels a day, the state now produces more oil than the entire continent of Europe, according to the Energy Information Administration and JLL Research.

That number could reach 3.5 million barrels a day by the end of 2014, putting the state’s production above all OPEC countries outside of Saudi Arabia, and representing an increase of more than 1 million barrels a day from the end of 2013, also according to the Energy Information Administration and JLL Research.

The United States itself surpassed 8.5 million barrels per day of crude oil production for the first time in 27 years in the month of July. Currently, the United States is the world’s third largest oil producer after increasing production by an average of 1 million barrels a day for three consecutive years and is now projected to reach 9.3 million barrels a day in 2015, according to the EIA.

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