While oil production from U.S. shale basins has been relentless, it will be other producers contributing to long-term supply growth, Wood Mackenzie found. Total U.S. oil production for the week ending July 6 averaged 10.9 million barrels per day, up about 16 percent from last year and putting the United States among the global leaders in output. Analysis from consultancy group Wood Mackenzie said the improvement in crude oil prices, which at about $75 per barrel for Brent is 57 percent higher than at this point last year, has supported exploration and production activity in U.S. shale. That’s been reflected in improved rig counts and Wood Mackenzie’s report said production from shale basins in the Lower 48 […]