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Price as of 10/21/18

Domestic Crude Production Hits Historic 11 Million B/D

Domestic Crude Production Hits Historic 11 Million B/D

July 19,2018

At 11 million b/d, total crude production in the U.S. hit a new milestone last week – its highest rate ever recorded since the Energy Information Administration (EIA) began reporting its data. Crude production has been well over 10 million b/d most of this year, so the new record high was anticipated. Increased crude prices and drilling investment have worked together to support growing crude production in the U.S. With 98 more active oil rigs over last year’s count at this time, according to Baker Hughes, Inc., increased oil production shows few signs of slowing down through the second half of 2018.