World News

December 2016, Vol. 243, No. 12

Offshore Production Accounts for 30% of Global Crude Output A report from the U.S. Energy Information Administration showed global offshore oil production in 2015 was at the highest level since 2010, accounting for nearly 30% of total global crude oil production. Offshore production rose in both 2014 and 2015, reversing consecutive annual declines from 2010-13. Production from onshore tight oil plays has risen faster over the past several years and accounts for an increasing amount of total oil production. The report said over 27 MMbbls of oil were produced offshore in 2015 in over 50…

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