U.S. Oil and Gas Production Shatters Records in 2024
Not Saudi Arabia or Russia, the U.S. is now the largest producer of oil and gas in the world. The U.S. Oil production is shattering records in 2024 breaking all the barriers that held it back. While Middle Eastern countries are cutting on production, the U.S. output increased post-2020 making it the market leader. The U.S. oil production is now 1.4% higher in 2024 than last year’s record pace. In addition, U.S. natural gas production is 1.1% higher than a year ago in May 2023. America is now producing more oil than any other country has in history directly challenging the Middle East. Also Read: BRICS: India & Nigeria Finalize Major Partnership Ditching US Dollar U.S. Oil and Gas Production: Records Shatter in 2024 Source: seekingalpha.com / Arseniy45 The average U.S. Oil production last year in 2023 stood at 2.93 million barrels per day (BPD). However, the same production output increased by a whopping 7.1% in 2024 to 13.12 million bpd. Also Read...