Oil

US Sees Largest Single-Year Increase in Oil Production

Thanks to fracking

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A report has revealed that 2012 saw the largest single-year increase in US oil production ever recorded.

US production grew due to an increase in techniques such as fracking, a method for extracting shale oil and gas, the report by oil giant BP said.

Overall, global energy consumption grew by 1.8% in 2012, a smaller increase than in 2011. China and India accounted for almost 90% of that growth.