The EIA says US oil production hit 7.61 million barrels a day last week.
That’s the most since October 1989.
In case you didn’t know, there’s a shale boom going on.
But moving weekly average production is also influenced by prices, and since Aug. 21 WTI futures are up 6.53%. They’re up 1.23% today to more than $US110.
Here’s the chart:
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