US Oil Production 9% higher than peak in 1970 and will be about 20% higher next year

US oil production set a new record back in February, 2018 to surpass the previous oil production peak set in the 1970s.

EIA estimates that U.S. crude oil production averaged 10.9 million barrels per day (b/d) in June. EIA projects that U.S. crude oil production will average 10.8 million b/d in 2018, up from 9.4 million b/d in 2017, and will average 11.8 million b/d in 2019.

The US is also exporting some oil and natural gas.

The US is exporting 2.5 million barrels of crude oil, oil products and natural gas products in 2018. This is about 8000 barrels per day.

logo

Don’t miss the latest future news

Subscribe and get a FREE Ebook