US now producing 10 percent of world's crude oil

The U.S. is now producing a 10th of the world's oil, the Energy Department's statistics shop said Wednesday.

A rise in tight oil operations sent crude oil production upwards at the end of last year, the Energy Information Administration said.


Overall crude oil production in the U.S. averaged 7.84 million barrels per day, accounting for more than 10 percent of total world production.

Tight oil operations have helped bring the U.S. into its current oil boom. A majority of the tight oil comes from South Texas and North Dakota shale formations.

The U.S. is a global leader in tight oil production, with Canada and Russia being the only other countries to produce it in commercial quantities.