WASHINGTON, July 10 (UPI) -- The American Petroleum Institute said domestic oil potential is inhibited by federal regulations despite an increase in the number of oil wells drilled in 2013.
API said there were 8,739 oil wells drilled in the United States during the second quarter of 2013, a 9 percent increase year-over-year. The total number of natural gas wells completed during the second quarter increased 2 percent, to 12,645, compared to the same period in 2012.