Us is the world’s largest producer of oil and natural gas and has seen a dramatic increase in production since 2008. us oil production has increased by more than 50% and us natural gas production has increased by more than 30%. as a result, the us is now the world’s largest exporter of oil and natural gas as well as the world’s largest net exporter of crude oil and petroleum products.
Increase in us oil and natural gas production began in 2008 and has continued to the present day. us oil production is expected to reach a record high of 13.2 million barrels per day in 2019 and us natural gas production is expected to reach a record high of 90.8 billion cubic feet per day in 2019. us oil exports have increased by more than 500% since 2008 and us natural gas exports have increased by more than 800% since 2008.
Increase in us production of oil and natural gas has been driven by technological advances in the industry, including improved drilling techniques, increased efficiency, and the development of new sources of production. as a result, the us is now the world’s largest producer of crude oil and natural gas liquids, dry natural gas, petroleum products, and renewable energy, such as biofuels. the increased production has allowed the us to become the world’s largest exporter of oil and natural gas, creating jobs, stimulating economic growth, and providing energy security.
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