Last December, US crude oil production reached a new monthly record of more than 13.3 million barrels per day (Reuters)
Reuters quoted a statement from the Energy Information Administration - issued today, Monday - that US crude production leads the world for the sixth year in a row, with a record average of 12.9 million barrels per day.
She added that US crude oil production recorded a new monthly record in December, amounting to more than 13.3 million barrels per day.
The Energy Information Administration added, “The United States produced more crude oil than any country at any time during the past 6 years, according to our international energy statistics.”
The Energy Information Administration said another country will soon break the record.
Last January, Saudi Arabia ordered Aramco to stop its oil expansion plan (Reuters)
As for Saudi Arabia, last January, the government ordered Aramco to stop its oil expansion plan and target a maximum sustainable production capacity of 12 million barrels per day, that is, one million barrels per day less than the goal announced in 2020.
Global benchmark Brent crude fell on Monday, falling below $82 a barrel, with ongoing geopolitical concerns in the Middle East and Russia adding to other concerns related to declining demand in China.
Recently, members of the OPEC Plus alliance - led by Saudi Arabia and Russia - agreed to extend a voluntary oil production cut of 2.2 million barrels per day in the second quarter, providing additional support to the market, amid concerns about global growth and increased production outside the group.
Source: Reuters