U.S. Oil Production Hits Record High, Set to Remain Dominant

For the sixth consecutive year, the United States has maintained its position as the world's top oil producer, according to the Energy Information Administration (‘EIA’). In 2023, U.S. crude output reached a historic high, averaging 12.9 million barrels per day (‘bpd’), surpassing the previous record set in 2019. December alone saw a remarkable milestone, with production peaking at over 13.3 million bpd.This upward trajectory continues through this year, with an estimated record-breaking output of 13.21 mil ...