US All Liquids oil production is at 19.6 million barrels per day. US oil production is forecasted to increase by 1-2 million barrels per day by the end of 2020. US crude oil production is at 12.5 million barrels per day.
Saudi Arabia had to cut oil production to support oil prices. Saudi Arabia is producing 10.6 million barrels per day.
Russian crude oil production is at 11.7 million barrels per day.
The US will be passing the 20 million barrel per day all liquids production level by the end of this year.
The US all liquids oil production should pass combined Saudi Arabia and Russian oil production levels in 2021.
Canada is at 4.2 million barrels per day of crude oil production.
Combined US and Canada crude oil production should surpass Saudi Arabia and Russia crude oil production in 2021 or 2022.
Mexico is at 1.68 million barrels per day of crude oil production.
Combined US, Canada and Mexico crude oil production could surpass Saudi Arabia and Russia crude oil production in 2020.
Combined US, Canada and Mexico all liquid production should surpass OPEC crude oil production in 2020.
The US will increase from 12.5 million barrels per day of crude oil and condensate to 17 million barrels per day in 2025.
The US will increase natural gas liquids from 5.5 million barrels per day today to 8.5 million barrels per day to 2025.
If OPEC remains frozen at about 26 million barrels per day, the US will be very close to equaling OPEC based upon oil and natural gas liquid production.
US All liquids production in 2025 would be about 27 million barrels per day. The US oil and liquids production could surpass OPEC in 2025.
The US uses about 21 million barrels per day in oil and liquids. Increased use of electric cars and other efficiency gains will keep this level of oil usage steady and could decrease US consumption. This will mean that the US would be a net exporter of about 6 million barrels per day in 2025. At $60 per barrel, this would be about $131 billion dollars per year.
This will be a huge geopolitical and business shift.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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