Revenues for OPEC (excluding Iran) in 2015 are expected to fall to $446 billion, 46 percent below the 2013 level.
U.S. total natural gas proved reserves increased 10 percent (31 trillion cubic feet (Tcf)) in 2013 and reached a new U.S. record of 354 Tcf,
UK scientists have discovered a technique they say has the potential to dramatically reduce the amount of energy used in the refinement of crude oil.
The record increase in U.S. crude oil production during 2012 and the significant decline in coal use for domestic electricity generation were reflected in the movement of those two commodities by rail last year.
Significant increases in U.S. production of crude oil and other liquid fuels and the outlook for further growth have focused attention on the possibility that the United States could soon surpass Saudi Arabia to become the leading global producer, according to research by the U.S. Energy Information Agency.