United States produces more crude oil than any country, ever

[buster]

United States produces more crude oil than any country, ever - U.S. Energy Information Administration (EIA)

www.eia.gov

The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row. Crude oil production in the United States, including condensate, averaged 12.9 million barrels per day (b/d) in 2023, breaking the previous U.S. and global record of 12.3 million b/d, set in 2019. Average monthly U.S. crude oil production established a monthly record high in December 2023 at more than 13.3 million b/d.

The crude oil production record in the United States in 2023 is unlikely to be broken in any other country in the near term because no other country has reached production capacity of 13.0 million b/d. Saudi Arabia’s state-owned Saudi Aramco recently scrapped plans to increase production capacity to 13.0 million b/d by 2027.

 

[4WD]

United States produces more crude oil than any country, ever - U.S. Energy Information Administration (EIA)

www.eia.gov

The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row. Crude oil production in the United States, including condensate, averaged 12.9 million barrels per day (b/d) in 2023, breaking the previous U.S. and global record of 12.3 million b/d, set in 2019. Average monthly U.S. crude oil production established a monthly record high in December 2023 at more than 13.3 million b/d.

The crude oil production record in the United States in 2023 is unlikely to be broken in any other country in the near term because no other country has reached production capacity of 13.0 million b/d. Saudi Arabia’s state-owned Saudi Aramco recently scrapped plans to increase production capacity to 13.0 million b/d by 2027.

View attachment 235355

Try that after a ban on fracking …

 

[dishdude]

The problem we have isn't the production of crude, it's refinery capacity and the locations of the refineries make them vulnerable to being knocked offline due to severe storms. However, gas is currently $3.25/gal at Costco for 87, I don't find that unreasonable....but all it takes is a storm in the Gulf to cause a disruption.

 

[hrv]

The problem we have isn't the production of crude, it's refinery capacity and the locations of the refineries make them vulnerable to being knocked offline due to severe storms.

and we need to refill our reserves that were used...

 

[dishdude]

and we need to refill our reserves that were used...

How do you know that's not being done?

 

[SC Maintenance]

How do you know that's not being done?

That information is 100% public domain - weekly - going back to 1982.

Weekly U.S. Ending Stocks of Crude Oil in SPR (Thousand Barrels)

 

[dishdude]

That information is 100% public domain - weekly - going back to 1982.

Weekly U.S. Ending Stocks of Crude Oil in SPR (Thousand Barrels)

So it is being refilled, thank you for the confirmation.

 

[thastinger]

That information is 100% public domain - weekly - going back to 1982.

Weekly U.S. Ending Stocks of Crude Oil in SPR (Thousand Barrels)

That is a LOT smaller than I had imagined it was. 750K barrels is nothing when you are normally outputting 12 million a day.

 

[JoelB]

So it is being refilled, thank you for the confirmation.

That's a pretty funny take on that graph considering levels in 2021 and current refill rate. But I guess you can choose to see what you want.

 

[demarpaint]

The SPR looked a lot better from Aug 86- April 2022.

 

[dishdude]

That's a pretty funny take on that graph considering levels in 2021 and current refill rate. But I guess you can choose to see what you want.

It's been increasing every month for over a year.

 

[BMWTurboDzl]

That's a pretty funny take on that graph considering levels in 2021 and current refill rate. But I guess you can choose to see what you want.

It seems consistent with the rate of accumulation during early 2000's.

 

[Danno]

How much of the US and off shore areas are restricted, and how much could the restricted areas produce?

 

[SC Maintenance]

That is a LOT smaller than I had imagined it was. 750K barrels is nothing when you are normally outputting 12 million a day.

Its 750,000 x 1000 , - so 750,000,000 or 750M barrels

750K would be a few hours....

 

[SC Maintenance]

How much of the US and off shore areas are restricted, and how much could the restricted areas produce?

No one that lives on the shore wants off-shore drilling. I don't either. Look how the folks in the gulf got bent over when the Horizon failed.

 

[Jetronic]

That is a LOT smaller than I had imagined it was. 750K barrels is nothing when you are normally outputting 12 million a day.

750 million barrels, the unit is 1000 barrels

 

[SC Maintenance]

The SPR was never intended to be a tool to manipulate price. Its supposed to be for national security.

If the SPR was a business they would be investigated for what happened in the last couple years and the FTC would split it up. The Hunt Brothers were convicted for doing the same thing to Silver, a much less important resource.

 

[4WD]

750 million barrels, the unit is 1000 barrels

That’s allot of Jet-A potential for the military …

 

[PWMDMD]

and we need to refill our reserves that were used...

I believe there is a law in place that was part of the 2018 Tax breaks as well as laws from 2015/2016 that mandates ~½ of the oil destine for the SPR MUST be sold. This decision to do this in 2018 was made because those tax breaks resulted in a $2.5T deficit. You can’t fill something when law requires you to sell ½ of it. If this law is not still in place, please let me know. This is not meant to be a peeing contest of tribalism but I have not seen anything about repealing this law and I’m just interested to know what the current status is now but it appears sales were mandated through 2027.

U.S. spending bill calls for sale of strategic oil reserves - UPI.com

A component of the bipartisan U.S. spending bill that called for the sale of strategic oil reserves was a consideration met with criticism on Friday.

www.upi.com

Recent legislation mandates additional sales of U.S. Strategic Petroleum Reserve crude oil - U.S. Energy Information Administration (EIA)

www.eia.gov

 

[4WD]

Think about it …