Crude oil production in the USA exceeded 12 million barrels per day for the first time in two years

Crude oil production in the US exceeded 12 million barrels per day for the first time since the beginning of 2020, according to weekly production monitoring data from the Energy International Agency (EIA).

So, in the week that ended on June 24, the average daily production of crude oil in the US reached 12.1 million barrels per day.

One may remind, that in the first half of 2020, oil production in the United States fell sharply against the background of a sharp drop in oil prices due to a reduction in demand after the start of lockdowns in various countries to prevent the spread of the coronavirus.

The US remains the largest oil producer in the world, followed by Russia and Saudi Arabia. With the start of a full-scale war in Ukraine and the introduction of sanctions, oil production in Russia has been steadily declining.

17:28 / 30 June 2022

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