US oil production has surged to a new record high of 13.3 million barrels a day last week

[Caribbeans]

CHART OF THE DAY: US crude oil production jumps to record high of 13.3 million barrels per day

Matthew Fox | Thu, Dec 21, 2023

Our Chart of the Day is from YCharts, which shows that US oil production has surged to a new record high of 13.3 million barrels a day last week.

The prior record was 13.2 million barrels a day hit in November, and is above the pre-pandemic high of 13.1 million barrels reached in February 2020.

America's steady rise in US oil production has helped put a cap on prices, with the commodity down 8% year-to-date even amid a flare-up in geopolitical tensions in the Middle East, and as the US economy remains on solid footing.

That's been great news for drivers, with the average price of gas steadily falling to $3.12 a gallon, according to the most recent data from AAA.

The US is the largest oil producer in the world, surpassing Russia's 9.5 million barrel a day production rate, and well ahead of Saudi Arabia's daily production rate of 9.1 million barrels a day.....more
https://finance.yahoo.com/news/chart-day-us-crude-oil-044740808.html



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