Monday, June 4, 2018

US Oil Production Advance


Oil production is measured in millions of barrels per day. The US uses 20 million bpd, but only produced 10 million bpd until now. The US has unleashed oil production and is expected to increase production to 14.9 million barrels per day in 2018.

In 2016, the top oil producing countries were Russia 10.5, Saudi Arabia 10, US 9.2, Iraq 4.3, China 4.1, Canada 3.8, Iran 3.5, UAE 2.7, Kuwait 2.5, Venezuela 2.4

In 2018, the US advanced to second place and oil production is Russia 10.9, US 10.2 and Saudi Arabia 10.

For 2018, the US is expected to take first place with estimated oil production of US 14.9, Saudi Arabia 12.4, Russia 11.2, China 4.8, Canada 4.6, Iraq 4.4, Iran 4.2, UAE 3.8, Brazil 3.2, Kuwait 3.1

There are 99 countries who produce oil. In 2016 the next 10 oil producing countries produced 1 million bpd and world oil production was 80 million bpd.

Natural gas production is also increasing. 94 countries have reported natural gas production in billions of cubic meters (billion M3)

Fracking has allowed all countries to extract oil from shale and this additional oil and natural gas is being harvested.

Norb Leahy, Dunwoody GA Tea Party Leader


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