The U.S is pumping out over ten-million barrels per day, topping a nearly 50 year record. That record may not stand long as forecasts show production could climb to eleven-million barrels a day by the end of 2019. President of the Mid Continent Oil and Gas Association Chris John says overseas markets such as China are hungry for more fuel and Louisiana’s 170 offshore operators are showing they can keep up with their demand.

"As they become more and more dependent and need more energy, the more used worldwide, that leaves opening for us to produce and export more oil."

Crude oil topped $60.00 a barrel for the first time in over two years. John says the cost of oil could top $70.00 per barrel before long. He says Louisiana operators and oil producers in West Texas are willing to ramp up production since they can finance ramped up operations easier.

"Now with oil coming up on 70 (dollars), I think that gives them a lot of optimism to go out and produce more.  So that puts us in a really good position to be able to have a record production year."
John says domestic oil companies are in a great position in the global scene. He cites Venezuela as an example, normally accounting for 20 percent of the world’s supply.
"Because of their debt and their oil network that's deteriorating, they're not being able to produce."