In 2020, oil production in the United States reached 16.5 million barrels per day, a slight decrease from the previous year. In 2019, oil production reached the highest point in history. The United States currently produces more oil than any other country in the world.
Why has U.S. oil production increased?
As U.S. oil production has more than doubled since the 2008 recession, imports of crude oil to the United States have decreased. An upsurge in foreign oil prices during the financial crisis, particularly from OPEC countries located mainly in the Middle East, motivated the U.S. energy industry to find ways to increase production domestically.
Developments in extraction technology
During the recession, investors took advantage of low-interest rates to develop costly oil extraction processes such as hydraulic fracturing. Also known as “fracking,” this extraction method made it possible to access shale oil deep underground that was once out of reach. Texas and North Dakota are major sites of shale reserves and have thus become the two largest oil-producing states in the country.
Oil production in the United States from 1998 to 2020*
(in 1,000 barrels per day)
* Oil production includes crude oil, shale oil, oil sands and NGLs (natural gas liquids - the liquid content of natural gas in which the condensate is recovered separately). Liquid fuels from other sources, such as biomass and coal derivatives are not included. Figures for years not included in the pdf version were taken from the Data workbook of the Statistical Review.
This statistic was assembled using several editions of the report.
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BP. (July 8, 2021). Oil production in the United States from 1998 to 2020* (in 1,000 barrels per day) [Graph]. In Statista. Retrieved May 18, 2022, from https://www.statista.com/statistics/265181/us-oil-production-in-barrels-per-day-since-1998/
BP. "Oil production in the United States from 1998 to 2020* (in 1,000 barrels per day)." Chart. July 8, 2021. Statista. Accessed May 18, 2022. https://www.statista.com/statistics/265181/us-oil-production-in-barrels-per-day-since-1998/
BP. (2021). Oil production in the United States from 1998 to 2020* (in 1,000 barrels per day). Statista. Statista Inc.. Accessed: May 18, 2022. https://www.statista.com/statistics/265181/us-oil-production-in-barrels-per-day-since-1998/
BP. "Oil Production in The United States from 1998 to 2020* (in 1,000 Barrels per Day)." Statista, Statista Inc., 8 Jul 2021, https://www.statista.com/statistics/265181/us-oil-production-in-barrels-per-day-since-1998/
BP, Oil production in the United States from 1998 to 2020* (in 1,000 barrels per day) Statista, https://www.statista.com/statistics/265181/us-oil-production-in-barrels-per-day-since-1998/ (last visited May 18, 2022)
