The U.S may now be the world’s largest global crude oil producer, according to the Energy Information Administration (EIA).
According to its latest Short-Term Energy Outlook U.S. crude oil production in February exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the United States surpassed Russia in crude oil production for the first time since February 1999.
EIA estimates that U.S. crude oil production averaged 10.9 million barrels per day (bpd) in August, up by 120,000 bpd from June. EIA forecasts that U.S. crude oil production will average 10.7 million bpd in 2018, up from 9.4 million bpd in 2017, and will average 11.5 million bpd in 2019.
Meanwhile, EIA estimates that U.S. crude oil production averaged 10.9 million bpd in August, up by 120,000 bpd from June. EIA forecasts that U.S. crude oil production will average 10.7 million bpd in 2018, up from 9.4 million bpd in 2017, and will average 11.5 million bpd in 2019.
Since exports of U.S. LNG began in 2016, over 1.3 trillion cubic feet of U.S. natural gas has been exported. EIA estimates dry natural gas production in the U.S was 82.2 Bcf/d in August, up 0.7 Bcf/d from July. Dry natural gas production is forecast to average 81.0 Bcf/d in 2018, up by 7.4 Bcf/d from 2017 and establishing a new record high. EIA expects natural gas production will continue to rise in 2019 to an average of 84.7 Bcf/d.
For more information visit: www.eia.gov
17th September 2018
