THE U.S. BECOMES THE WORLD’S LARGEST OIL AND NATURAL GAS PRODUCER


THE U.S. BECOMES THE WORLD’S LARGEST OIL AND NATURAL GAS PRODUCER
RUSSIA AND SAUDIA ARABIA ARE THE NEXT BIG OIL SOURCES.
DES MOINES, Iowa -- The U.S. is now the largest oil and natural gas producer in the world.

On Tuesday, the Energy Information Administration announced that U.S. petroleum and natural gas production increased by 16% and by 12%, respectively, in 2018, and these totals combined established a new production record.

It’s important to note that petroleum includes crude oil, condensate, and natural gas plant liquids (NGPLS).

In 2011, the U.S. passed up Russia to become the world’s largest producer of natural gas. Last year, the U.S. outproduced Saudi Arabia to become the world’s largest producer of petroleum, EIA reported.

Last year’s increase in the U.S. was one of the largest absolute petroleum and natural gas production increases from a single country in history, according to the EIA press release.

While the U.S. and Russia petroleum and natural gas production is nearly evenly split, Saudi Arabia’s production is weighted toward petroleum.

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06 Dec 2019


By Mike McGinnis

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