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Caspian Energy Journal Caspian European Club
Wednesday, 10 April 2019 15:00

U.S. crude oil production grows 17%

U.S. crude oil production grows 17%

Annual U.S. crude oil production reached a record level of 10.96 million barrels per day (b/d) in 2018, 1.6 million b/d (17%) higher than 2017 levels, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the U.S. Energy Information Administration (EIA).  

In December 2018, monthly U.S. crude oil production reached 11.96 million b/d, the highest monthly level of crude oil production in U.S. history. U.S. crude oil production has increased significantly over the past 10 years, driven mainly by production from tight rock formations using horizontal drilling and hydraulic fracturing. EIA projects that U.S. crude oil production will continue to grow in 2019 and 2020, averaging 12.3 million b/d and 13.0 million b/d, respectively.

Texas continues to produce more crude oil than any other state or region of the United States, making up 40% of the national total in 2018. Texas crude oil production averaged 4.4 million b/d in 2018 and reached a record-high monthly production level of 4.9 million b/d in December 2018.

Several other U.S. states or regions set production records in 2018. Growth in the Permian region, which spans parts of Texas and New Mexico, also drove a 215,000 b/d, or 45%, production increase in New Mexico. This level was the second-largest state-level growth in 2018 and accounted for 13% of the total U.S. increase, setting a new annual record production level in New Mexico.

More details: https://www.eia.gov/todayinenergy/detail.php?id=38992

Person in charge of the newsline: Olga Nagiyeva 

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