US oil production last year rose to its highest level in almost a decade, thanks to an increase in the use of “unconventional” extraction techniques .
As a result, analysts believe the US was the largest contributor to the increase in global oil supplies last year over 2009, and is on track to increase domestic production by 25 per cent by the second half of the decade.
The rise would still not be enough to end America’s dependence on imported oil, which accounted for roughly half of US demand in 2010. But it would reduce the country’s vulnerability to supply shocks and its trade deficit.
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