Production reaches new highs, but prices will curtail output

Crude oil. Overall, U.S. crude oil production increased slightly in 2015, with noticeable gains reported in the Bakken and Eagle Ford/Permian shale plays of North Dakota and Texas, respectively. Crude oil prices started the year at around $45/bbl, then rose steadily, hitting a yearly high in the $60–65/bbl range during May and June. During the second half of the year, crude prices started a steep decline, bottoming in December at seven-year lows of approximately $33.50/bbl.

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