Domestic oil production in U.S. reached record levels
(The Center Square) – Domestic oil production in the U.S. reached a new record in November of 2023, hitting 13.31 million barrels per day, according to data from the U.S. Energy Information Administration.
The previous record was 13.25 million barrels per day. That was set in September 2023.
Production of crude oil in the U.S. has increased by 68% in the past 10 years. The U.S. produced 7.91 million barrels per day in November 2023.
The Independent Petroleum Association of America said that improvements in fracking technology have led to the record-levels of production.
The lobbyist for oil and natural gas producers stated on its website that “in roughly a decade’s time, advances in fracking technology have reversed the United States’ trajectory from that of energy scarcity” to being a world leader in oil production.
Hydraulic fracking has been used since 1947. It involves injecting liquid and materials at high pressure to release and extract energy in the form or natural gas and oil from underground wells.
Some environmental groups, such as the Sierra Club, oppose fracking.
“Fracking poses unacceptable risks to our communities, our environment and our climate,” the Sierra Club stated on its website. “There is clear evidence that natural gas and oil extracted by fracking are major greenhouse gas contributors.”
Analysts at the U.S. Energy Information Administration project that U.S. crude oil production will continue at record levels for December 2023 when that data is released next month. Those analysts predict oil production will drop in January and reach record levels again in February 2024 and then taper off until February 2025.
