US crude sets record
US oil output to set new record
Partisan political rhetoric has not prevented production growth
US crude production is on pace to set fresh records next year, regardless of seemingly poor relations between Washington and the upstream energy sector. Oil output in the US has steadily increased month-on-month since February. By September, average production had reached 12.3mn bl/d, the highest for any month since March 2020, and the EIA expects output to be sustained at similar levels going into next year. US production will average 12.4mn bl/d in 2023, “which would surpass the record high set in 2019”, the EIA predicts. That projected annual average output would be almost 6pc higher than the forecast average of 11.7mn bl/d for this year. By comparison, Saudi production averaged 10.9mn bl
Also in this section
2 June 2025
More than anything else, weak Chinese gas demand is providing relief to EU consumers, but it is uncertain how long this relief will last
30 May 2025
Energy majors argue transition debate has started to factor in the complexities of demand shifts and the wider role for gas
29 May 2025
Sovereignty is the watchword for the new government, but there are still upstream opportunities for those willing to work closely with the state
29 May 2025
A cautious approach to coal-to-gas switching offers lessons to others who are looking to balance cost with cleaner energy
