Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Fracking to drive US oil production to record high

Fracking to drive US oil production to record high

US oil production is to approach a record high within three years, powered by fracking, according to the Energy Information Association (EIA).

In its latest annual outlook report, the EIA said it expects US output to hit 9.5 million barrels a day in 2016, marginally below the previous high of 9.6m b/d seen in 1970 and almost double the low of 5m b/d seen in the trough that occurred at the height of the financial crisis in 2008.

'Ongoing improvements in advanced technologies for crude oil and natural gas production continue to lift supply domestic supply and reshape the US energy economy,' the EIA said.

The organisation expects oil output to start falling in 2020 as the impact of fracking wanes, but predicts that natural gas production will continue to grow, rising by 56% between 2012 and 2040.

Fracking, which remains a controversial extraction procedure, has helped drive US production up to a 25 year high and the extent of its impact caught out even the EIA, which last year predicted that output growth would rise by 7.5m b/d before this week's upgrade.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter