U.S. crude oil production growth projected to be led by light, sweet crude oil

U.S. Energy Information Administration -------- Recent growth in U.S. crude oil production has been primarily light, sweet crude oil, defined as having an API gravity of 35 or higher and sulfur content of 0.3% or less. These light, sweet crudes, which are produced from tight resource formations, accounted for up nearly 90% of the 3.1 million barrel per day (b/d) growth in production from 2010 to 2017. Light, sweet crude oil accounted for more than half (56%) of total domestic crude oil production in 2017, and in EIA’s Annual Energy Outlook 2018 (AEO2018) Reference case, this share grows to 60% by 2020 and to 70% by 2050. U.S. supply of lighter crude oil from tight formations, such as the Bakken in North Dakota and the Wolfcamp and Eagle Ford in Texas, is projected in the Reference Case to continue to outpace that of medium and heavier crudes. Medium-gravity (API between 27 and 35) sour crudes, primarily Alaskan and Lower 48 states offshore production, accounted for about 30% of 2017 U.S. crude oil production and are projected to account for 18% of 2050 production in the AEO2018 Reference case. To learn more click on the picture below to read the article.