, but still under pressure from demand concerns tied to slowing global growth and the trade dispute between the U.S. and China.in a unique kind of "sweet spot," said Amy Harder, energy reporter at Axios.
Harder spoke shortly after the U.S. Energy Information Administration, a statistics-focused offshoot of the Department of Energy, released its. The report showed U.S. oil production booming, particularly in the oil-rich area of western Texas known as the Permian Basin. "It should be 13 million barrels a day in the next year, and that's more than double what it was just a decade ago," she said. "That's significant."
"Now, that's a significant turnaround, again, from the last decade when we were significantly dependent upon oil from the Middle East, and so that continues to be the case," Harder said. "It's just staggering how [U.S. production] continues to increase, and it isn't seeing any signs of ... slowing."
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