"US Maintains Unprecedented Lead in Global Oil Production for Sixth Consecutive Year"
TL;DR Summary
The US led global oil production for the sixth consecutive year in 2023, surpassing its own record with an average of 12.9 million barrels per day. Alongside Russia and Saudi Arabia, the three countries accounted for 40% of global oil production. The EIA report highlighted the US's dominance in oil production, driven by advancements in hydraulic fracturing and horizontal drilling techniques, particularly in the Permian Basin. Russia, which led global production in 2017, has faced production growth challenges due to sanctions and voluntary cuts.
- US led global oil production for sixth straight year in 2023 Fox Business
- US Oil Production More Than Any Country Ever, Unlikely to Be Surpassed: EIA Markets Insider
- United States produces more crude oil than any country, ever - U.S. Energy Information Administration EIA
- U.S. Remains World's Largest Oil Producer for Sixth Year in a Row OilPrice.com
- US leads global oil production for sixth straight year- EIA Yahoo Finance
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