U.S. crude oil production is rising at the fastest rate in history, according to the U.S. Energy Information Administration(EIA). The shale oil revolution is pushing the output toward a 20-year high next year.
U.S. production will rise by more than 13 percent to 6.4 million barrels per day in 2012.
The 760,000 bpd rise should be the largest since commercial crude oil production began in the United States in the 1850s. Next year, production is forecast to rise an additional 700,000 bpd to 7.1 million bpd, says EIA.