• When Considering Oil & Gas Terminal Development
  • February 21, 2018 | Author: Daniel Frost
  • Law Firm: Snell & Wilmer L.L.P. - Denver Office
  • The United States has become a global growth leader in crude oil production, adding nearly 1.2 million barrels of capability per day from 2008 to 2012. In 2015, U.S. crude oil production rose to 9.48 million barrels per day (bpd), the highest annual rate since 1972, and an increase of 90 percent from 2008. And it’s not just oil that’s ensuring the country’s top billing as an energy producer, it’s also natural gas. As the American Petroleum Institute (API) reports, the growth of natural gas liquids production, at a rate of more than 500,000 bpd oil equivalent, has brought the total increase in liquids production capacity to approximately 1.7 million barrels since 2008.