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U.S. oil production up 10 percent year-on-year

Oil imports down 3.6 percent, data show.

By Daniel J. Graeber
U.S. oil production up 10 percent year-on-year
U.S. oil production increasing, though trend lines suggest imports will too. (Graph: U.S. Energy Information Administration)

WASHINGTON, Sept. 18 (UPI) -- U.S. crude oil production for the second week in September was more than 10 percent higher than the previous year, government data show.

The U.S. Energy Information Administration said in a weekly petroleum report total U.S. crude oil production for the week ending Sept. 13 was 8.6 million bpd, a 12.6 percent increase from the same week in 2013.

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The increase in U.S. crude oil production has generated debate over the durability of legislation enacted in response to the oil embargo from Arab members of the Organization of Petroleum Exporting Countries that limits crude oil exports from the United States.

Supporters of lifting the ban say it will increase U.S. leverage overseas and push the price of petroleum products like gasoline lower. Opponents question those claims and argue more exports would come with environmental consequences.

EIA data show overall crude oil imports into the United States were down 3.6 percent year-on-year. Trend lines suggest, however, that imports may increase in the coming months.

Canada is the No. 1 crude oil exporter to the United States.

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