The surge in U.S. oil production has also not led to lower the price of oil. Even though U.S. crude oil production increased by almost 1.5 million barrels per day from October 2009 to January 2011, the price of oil also increased. This demonstrates the minimal impact that incremental additions to U.S. production have on global oil prices.
The surge in U.S. oil production has also not led to lower the price of oil. Even though U.S. crude oil production increased by almost 1.5 million barrels per day from October 2009 to January 2011, the price of oil also increased. This demonstrates the minimal impact that incremental additions to U.S. production have on global oil prices.
The surge in U.S. oil production has also not led to lower the price of oil. Even though U.S. crude oil production increased by almost 1.5 million barrels per day from October 2009 to January 2011, the price of oil also increased. This demonstrates the minimal impact that incremental additions to U.S. production have on global oil prices.