4 December 2013
According to economist, Mark J. Perry, a professor at the University of Michigan’s School of Management, Texas’ oil production rate has increased by more than 25% year-over-year for the last 29 months. This September, the state produced 2.7 million barrels of crude per day and reached a new highest monthly average since January 1981. Experts attribute this growth to the surge in production in South Texas’ Eagle Ford Shale and West Texas’ Permian Basin.
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