Crude oil production in the Permian basin will rise by ~60% to reach at least 1.82M bbl/day by...

|By:, SA News Editor

Crude oil production in the Permian basin will rise by ~60% to reach at least 1.82M bbl/day by 2016, energy consultancy Bentek says. Output will surpass existing pipeline capacity by early next year, but ~1M bbl/day of new takeaway capacity is slated to come online by the end of 2014.