US surge in oil production could contribute to global oversupply

Record oil and gas production expected in several major US plays

Records: The Energy Information Administration expects oil production in the Permian basin to surpass 5 million bpd in January 2022 — Records: The Energy Information Administration expects oil production in the Permian basin to surpass 5 million bpd in January 2022Photo: REUTERS/SCANPIX

Mark Passwaters

Houston

Published 14 December 2021, 19:41Updated 17 December 2021, 12:25

USA EIA Texas Haynesville Appalachia