SOURCE: Industrial Info Resources
DENVER, CO--(Marketwired - Apr 22, 2013) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- U.S. domestic production of crude oil is expected to exceed imports sometime this year as surging production from domestic shale formations continues to displace imported crude, speakers said at an Oil & Gas conference earlier this month in Denver. This trend began in 2008, when U.S. crude oil production bottomed at about 5 million barrels per day (BBL/d). It increased to about 6.5 million BBL/d in 2012, and is projected to reach between 9 million and 11 million BBL/d in 2020, speakers told about 250 attendees at the 7th Annual Platts Rockies Oil & Gas Conference. Domestic production is expected to exceed imports sometime this year, speakers said.
Companies featured: The McGraw-Hill Companies (NYSE:MHP), Phillips 66 (NYSE:PSX), PBF Energy (NYSE:PBF), Imperial Oil Limited (NYSE:IMO), Tesoro Corporation (NYSE:TSO), Alon USA Energy Incorporated (NYSE:ALJ), Chevron Corporation (NYSE:CVX), Valero Energy Corporation (NYSE:VLO), Marathon Petroleum Corporation (NYSE:MPC)
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