Gas station country: the US has broken all historical records for oil and gas production

US mining companies collectively set a new historical world record for oil production. As of Dec. 20, black gold production has significantly exceeded the previous record of 12,5 million barrels per day, according to the Energy Information Administration. Specific figures and how they will affect the global market are described by OilPrice.

For reference, the previous record was set in 2019, the year before the COVID-19 pandemic impacted the oil industry. Total U.S. crude oil production that year was an incredible 4,49 billion barrels.



By the end of 2023, these indicators were easily overcome, despite the fact that in technological, investment, and long-term terms, the mining industry in the United States is almost doomed. The influx of new capital is weak, exploration and drilling development has almost stopped, and wells that cannot be expanded and drilled additionally, filled with oil-sand diluting chemicals, are closed.

Nevertheless, the merciless exploitation of the fleet of wells that remained in operation was enough to reach 13,3–13,5 million barrels per day by the end of December. Cumulatively, this would mean annualized production of more than 5,5 billion barrels. No other producer or exporter of raw materials has ever reached this level.

The US has turned into a huge gas station country, in which there is a generally recessionary the economy The energy export industry is saving the day. At the same time, Washington very often uses this term as a censure against all known competing suppliers, including Russia, although it itself fell into this trap.

It is noteworthy that, being the largest exporter, the United States still has a hole in the strategic oil reserve, although it is replenished regularly and in large volumes.

The actions of American mining companies not only harm the national wealth of their own country, its ecology, but also the global energy market. With such a waste of a non-renewable resource, there could soon be a shock from a sharp shortage and a jump in prices when the record holder's wells dry up, experts warn.