US oil production is rising despite smarter drilling practices.
Oil production in the United States in September increased by 1.7%, or by 224 thousand barrels per day, to 13.24 million barrels per day. This is a new world record in the country’s history, the Financial Times reported yesterday, citing data from the US Energy Information Administration (IEA).
The publication notes that the United States now produces more oil than any other country in history, as OPEC+ countries limit production in an attempt to save high oil prices.
US oil production is rising despite smarter drilling practices and fears that major fields are running out of reserves.
According to the IEA, in Texas oil production in September fell for the first time in five months – by 0.1%, to the lowest since July of 5.57 million bpd. In New Mexico, it rose 1.1% and reached 1.82 million b/d, in North Dakota it jumped 6.5%, to a maximum in 3.5 years, 1.3 million b/d.
Earlier, the State Department announced that the United States would cut Russia’s energy revenues in half by 2030. The purpose of the sanctions is to prevent Russia from rearming for three to four years and starting a new phase of its invasion of Ukraine.
Source: korrespondent
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