Oil production in September reached a record 13.24 million barrels per day – Kommersant

By data Energy Information Administration of the US Department of Energy, in September, oil production in the United States increased by 1.7%, or 224 thousand barrels per day (b/d), and amounted to 13.24 million b/d. This is an absolute monthly record for the country. Thus, since the beginning of 2022, oil production in the United States has increased by 800 thousand bpd. According to analysts surveyed The New York Timesin 2024 the country will add another 500 thousand b/d.

As noted Financial Timesthe US now produces more oil than any other country.

OPEC+ countries, including Russia, during the association meeting in Vienna on November 30 agreed to reduction production in the first quarter of 2024 in addition to their quotas, so that there is no possible reduction in oil prices due to a seasonal drop in demand and an excess of oil on the market. The US now exports about 4 million barrels per day, more than all OPEC+ members except Saudi Arabia.

However, the United States continues to import more oil than it exports because domestic demand for the product remains very high and many U.S. refineries can more easily process heavier crude produced in Canada or Latin America than oil produced in the New States. -Mexico, North Dakota or Texas.

Alena Miklashevskaya