Posts Tagged ‘oil’
U.S. Oil Production Growth 2024: Key Trends & Forecasts
The Permian Basin and the Federal Offshore Gulf of Mexico are planning to increase their oil production. The U.S. has been producing oil since the 1850s, and this trend continues to rise. Major oil-producing regions are also planning to boost their output, aligning with optimistic forecasts. In 2024, the Energy Information Administration (EIA) predicts crude…
Read MoreThe US leads the global crude oil market
In 2022, the United States accounted for 14.7% of the global crude oil market production. The United States leads as the top crude oil producer, closely followed by Saudi Arabia at 13.2% and Russia at 12.7%. While the pandemic had a significant impact on the market, leading to a decrease in production, there was a…
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