Crude oil production is increasing in USA day by day. Within some days oil production in expected reach 10 Million (1 Crore) barrel per day. This figure will be highest ever after 1970. USA administration want to increase the production further so that monopoly of OPEC countries over crude oil production can be break down. By the year 2019 USA oil production is expected to increase up to 12 Million (1.2 crore) barrel per day.
By the end of current budget year revenue of fracking services is expected to increase by 20 % in USA. Total revenue of fracking services will cross 29 Billion USD. Shale crude oil production sector is emerging as largest employer in USA.
Indian Guar gum industry will benefit from these business improvements. Export demand of guar gum will increase very much. Indian guar gum industry need to be keep away from speculators and speculative movement, so that crude oil industry doesn’t move to other alternates or substitutes of Guar.
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