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Posted On: 03/11/2024 11:06:19 PM
Post# of 124362
I'll get that chart for you, meanwhile how did EV, solar & wind guy pull this off?
The US is pumping more oil than any country in history - and it's unlikely to be surpassed any time soon
Source: Yahoo! Finance/Business Insider
Mon, Mar 11, 2024, 6:14 PM EDT
US crude production has surpassed every record in history for six years in a row, the US Energy Information Administration wrote on Monday. Its latest peak reached in 2023 is unlikely to be broken by any near-term competitor, it said.
Including condensate, last year's US crude production averaged 12.9 million barrels per day, eclipsing the 2019 global record of 12.3 million barrels per day. A monthly record also occurred in December, at over 13.3 million b/d.
It's a remarkable turnaround from a 62-year low hit in 2008, S&P Global previously noted, and potentially has come to surprise analysts. But despite a 69% decrease in active rigs since 2014, technological advancements have made US production much more efficient, the EIA cited in a separate report.
Further leading 2023's oil boom were private firms, with the top five companies representing a third of average annual Permian crude production growth since 2019.
Read more: https://finance.yahoo.com/news/us-pumping-mor...38851.html
The US is pumping more oil than any country in history - and it's unlikely to be surpassed any time soon
Source: Yahoo! Finance/Business Insider
Mon, Mar 11, 2024, 6:14 PM EDT
US crude production has surpassed every record in history for six years in a row, the US Energy Information Administration wrote on Monday. Its latest peak reached in 2023 is unlikely to be broken by any near-term competitor, it said.
Including condensate, last year's US crude production averaged 12.9 million barrels per day, eclipsing the 2019 global record of 12.3 million barrels per day. A monthly record also occurred in December, at over 13.3 million b/d.
It's a remarkable turnaround from a 62-year low hit in 2008, S&P Global previously noted, and potentially has come to surprise analysts. But despite a 69% decrease in active rigs since 2014, technological advancements have made US production much more efficient, the EIA cited in a separate report.
Further leading 2023's oil boom were private firms, with the top five companies representing a third of average annual Permian crude production growth since 2019.
Read more: https://finance.yahoo.com/news/us-pumping-mor...38851.html
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