The number of earthquakes east of the U.S. Rocky Mountains has increased dramatically since 2009, coinciding with the increase in oil and natural gas production from shale formations, according to the U.S. Geological Society.
Crude oil prices plunged on Wednesday afternoon more than 3.5%, after the U.S. Energy Information Administration (EIA) disclosed gasoline inventories increased by 2.1 million barrels during the week ended June 9.
The volume of working gas in storage for the week ended June 2, rose by 106 billion cubic feet (Bcf), to 2.63 trillion cubic feet (Tcf), from 2.53 Tcf one week earlier, the Energy Information Administration reports.
The U.S. remained the world's top producer of petroleum and natural gas hydrocarbons in 2016 for the fifth straight year despite production declines for both petroleum and natural gas compared to 2015 levels, the Energy Information Administration reports.
The U.S. Department of Energy believes domestic oil production will smash the daily production mark by 400,000 barrels (Bbl), reaching 10 million barrels a day (MMBPD) in 2018, Kallanish Energy reports.