How much shale (tight) oil is produced in the United States? The U.S. Energy Information Administration (EIA) estimates that in 2019, about 2.81 billion barrels (or 7.7 million barrels per day) of crude oil were produced directly from tight oil resources in the United States. This was equal to about 63% of total U.S. crude oil production in 2019. Tight oil is oil embedded in low-permeable shale, sandstone, and carbonate rock formations. US crude oil production initially peaked in 1970 at 9.64 million barrels (1,533,000 m 3) per day. 2018 production was 10.99 million barrels (1,747,000 m 3) per day of crude oil (not including natural gas liquids). Pennsylvanian oil rush; Office of Naval Petroleum and Oil Shale Reserves; Petroleum Administration for Defense District Crude oil is expected to trade at 31.29 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 26.91 in 12 months time.