US: Keeping prices stable
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Its latest report said the record-setting production seen in the US over the past few years has more than offset the rise in unplanned global supply disruption.
While there are differences in quality and location, it is thought that substitution may not be exactly one-for-one.
US production grew by more than 4 million barrels per day from January 2011 to July 2014, of which 3 million was crude oil production.
The EIA said unplanned supply disruptions grew by 2.8 million bpd.
This, the administration says, is what has caused crude oil price stability since 2011.
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