The Energy Information Administration (EIA) reported that mid-February domestic crude oil production rose to 7.06 million barrels (bbl.) per day, a 21.4% increase from the year-earlier number and matching production numbers last seen 20 years ago. For all of 2013, EIA projects U.S. oil output will average 7.25 million bbl. per day and rise to an average 7.82 million bbl. per day in 2014. It added domestic production averaged 6.44 million bbl. per day in 2012.

Crude imports continue to drop, standing at 7.5 million bbl. per day in mid February, a 14% decline from the year-earlier number. The EIA reported average U.S. crude production increased 790,000 bbl. per day from 2011 to 2012, the largest one-year increase in history.

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