{"id":66996,"date":"2024-03-16T07:21:49","date_gmt":"2024-03-16T12:21:49","guid":{"rendered":"https:\/\/olduvai.ca\/?p=66996"},"modified":"2024-03-16T07:21:49","modified_gmt":"2024-03-16T12:21:49","slug":"eia-confirms-u-s-producing-more-oil-than-any-country-in-history","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=66996","title":{"rendered":"EIA Confirms U.S. Producing More Oil Than Any Country in History"},"content":{"rendered":"<header class=\"entry-header\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/www.rrapier.com\/2024\/03\/eia-confirms-u-s-producing-more-oil-than-any-country-in-history\/\">EIA Confirms U.S. Producing More Oil Than Any Country in History<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p>In mid-December,\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/rrapier\/2023\/12\/15\/us-producers-have-broken-the-annual-oil-production-record\/\" target=\"_blank\" rel=\"noreferrer noopener\">I wrote here<\/a>\u00a0that the U.S. had set a new annual oil production record:<\/p>\n<p>\u201cThe U.S. set a new annual oil production record on December 15, based on data from the Energy Information Administration. Although the official monthly numbers from the EIA won\u2019t be released for a couple of months, we can calculate that a new record has been set based on the following analysis.\u201d<\/p>\n<p>I could project that new record based on the weekly production numbers from the EIA, but I noted that official confirmation wouldn\u2019t come until sometime this year. On March 11, 2024, the EIA made it official:\u00a0<a href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=61545\" target=\"_blank\" rel=\"noreferrer noopener\">United States produces more crude oil than any country, ever<\/a>.<\/p>\n<p>The EIA analysis notes that not only did the U.S. break the previous record in 2023, but speculated that no other nation is likely to break it any time soon:<\/p>\n<p>\u201cThe United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row. Crude oil production in the United States, including\u00a0<a href=\"https:\/\/www.eia.gov\/tools\/glossary\/index.php?id=condensate\" target=\"_blank\" rel=\"noreferrer noopener\">condensate<\/a>, averaged 12.9 million barrels per day (b\/d) in 2023, breaking the previous U.S. and global record of 12.3 million b\/d, set in 2019. Average monthly U.S. crude oil production established a\u00a0<a href=\"https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=61523\" target=\"_blank\" rel=\"noreferrer noopener\">monthly record<\/a>\u00a0high in December 2023 at more than 13.3 million b\/d.<\/p>\n<p>The crude oil production record in the United States in 2023 is unlikely to be broken in any other country in the near term because no other country has reached production capacity of 13.0 million b\/d. Saudi Arabia\u2019s state-owned Saudi Aramco\u00a0<a href=\"https:\/\/www.cnbc.com\/2024\/02\/12\/saudi-energy-minister-pins-aramcos-oil-capacity-halt-on-green-transition.html\" target=\"_blank\" rel=\"noreferrer noopener\">recently scrapped plans<\/a>\u00a0to increase production capacity to 13.0 million b\/d by 2027.\u201d<\/p>\n<p>The EIA analysis noted that following nearly 40 years of annual production declines, in 2009, U.S. crude oil production experienced a resurgence, attributed to the widespread adoption of hydraulic fracturing and horizontal drilling techniques by producers. Since then, production has continued to climb steadily.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>EIA Confirms U.S. Producing More Oil Than Any Country in History In mid-December,\u00a0I wrote here\u00a0that the U.S. had set a new annual oil production record: \u201cThe U.S. set a new annual oil production record on December 15, based on data from the Energy Information Administration. Although the official monthly numbers from the EIA won\u2019t be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[588,595,34178,9141,827,834],"class_list":["post-66996","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil","tag-oil-production","tag-r-squared-energy","tag-robert-rapier","tag-united-states","tag-us"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66996"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66996\/revisions"}],"predecessor-version":[{"id":66997,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66996\/revisions\/66997"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}