Oil production in 2018 is set to break records, according to oil economist Karr Ingham. There were talks of record-breaking oil production in 2018 during the Texas Petro Index (TPI) 2017 end-of-year briefing. During the briefing held in Houston Jan. 23, Karr Ingham, oil economist for the Texas Alliance of Energy Producers and creator of the TPI, said while 2017 was a story of recovery and growth for upstream oil and gas in Texas, 2018 is set to break previous oil production records. Ingham said daily posted prices surpassed $60 per barrel in January and will stimulate further rig count growth, more drilling permits and quicker industry employment growth. It will also push Texas and U.S. crude production upward. “Production bottomed out in September 2016 and has been on the rise since. We are on the cusp of blowing by the production levels in the 1970s in the next […]

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