The United States is producing more oil than it ever has since 1973 and the U.S. is surpassing Russia as the world’s largest producer of crude oil.
The Energy Information Administration said Thursday that the U.S. produced more than 11.3 million barrels a day in the month of August – 4 percent increase over the old record set in July.
The office that oversees energy in Russia estimates they pumped 11.2 million barrels a day in August. Organization of the Petroleum Exporting Countries (OPEC) states that Saudi Arabia pumped 10.4 million barrels a day in August.
Many states, including Texas, hit record production in August. which makes up 40 percent of America’s crude oil. The Energy Information Administration says that the pipeline bottlenecks Texas and New Mexico are causing more use of trucks and rail to distribute the oil.
A September report stated that the U.S. is now in a position continue to outpace Russian and Saudi Arabia. The report notes U.S. crude production in February 2018 outpaced Saudi Arabia’s production for the first time in over 20 years. Additionally, the U.S. crude production in June exceeded Russia’s crude oil production for the first time since February of 1999.
— EIA (@EIAgov) November 1, 2018