No. of Recommendations: 7
Crude oil production in the U.S. set a new record in 2023 and led global output for the sixth straight year, the Energy Information Administration said in data released on Monday.
The U.S. tallied an all-time worldwide high output averaging 12.9M bbl/day of crude and condensates last year, exceeding the previous global record of 12.3M bbl/day set by the U.S. in 2019 and widening the gap between the leading producer and Russia and Saudi Arabia, respectively the second- and third-largest producers, according to the EIA.
Russia produced 10.1M bbl/day in 2023, followed by Saudi Arabia with 9.7M bbl/day, with the following three producers in volume - Canada, Iraq and China - totaling a combined production of 13.1M bbl/day, only slightly above what the U.S. alone produced.
In December, U.S. crude oil production hit a new monthly record high of more than 13.3M bbl/day, the EIA said.
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