Oil drillers are working as hard and fast as they can with crude prices sure to hit ($69.72 on Friday) - and likely surpass - $70 a barrel.

According to the Energy Information Administration, February saw Texas oil production jump to over 4 million barrels a day. This is some 21 percent higher from a year earlier, and the highest in EIA data since 1981.

Ultimately, this helped push total U.S  crude output up 2.6 percent to a fresh record of 10.3 million.

"Growth in U.S. oil production is driven by Texas and the Permian Basin," said Elisabeth Murphy, an analyst with Wakefield, Massachusetts-based ESAI Energy LLC.

"It’s really booming."

The regions production really started to accelerate in Q4 last year, and continues to grow faster than previously expected.

"And all this growth is now trying to get to the U.S. Gulf Coast for export."

The rising supply has already filled up available pipeline capacity, with no new pipes or expansions expected to start until the second quarter.

Murphy went on to say that until then West Texas crude prices will remain "under pressure".