Additionally, the oil industry has been using the money efficiently. Since 2012, output per rig in U.S. shale oil and liquid projects has increased 30% to 40% per year, according to Citigroup (NYSE: C). The majority of the invested money was also used to acquire land instead of drilling, so spending may taper off ahead.
In the global arena, the U.S. oil seems more stable, compared to geopolitical hotspots like Russia and the Middle East.
Market Vectors Unconventional Oil & Gas ETF
For more information on the energy sector, visit our energy category.
Max Chen contributed to this article.