According to Dow Jones July 25, the US energy sector said that by the end of 2018 the oil production of the Permian Basin which across the Texas state and New Mexico is expected to reach 2.9 million barrels a day, it will account for about one-third of US oil production. The oil production of US this year is expected to reach 930 million barrels a day, which increase average 50 million barrels a day than last year. The oil production of US next year is expected to reach 990 million barrels a day, more than a record high of 9.6 million barrels per day in 1970. In fact, all new oil production in the United States between the current and the end of next year will come from the shale of the Permian basin and the deep water production in the Gulf of Mexico.
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