FILE – US reigning champion in oil, natural gas

Anadolu Agency | May 23, 2020 at 10:28 AM
  • With the shale revolution, which enabled the widespread use of methods such as hydraulic fracturing and horizontal drilling, the US’ crude oil production soared from an annual average of 5 million barrels per day (bpd) in 2008 to a record high level of 13.1 million bpd for the week ending Feb. 28, 2020.
  • Due to weak oil demand and low oil prices caused by COVID-19, US crude oil production fell to 11.6 million bpd for the week ending May 8, and is expected to average 11.7 million bpd in 2020.
  • US LNG exports only stood at 3.3 billion cubic feet in February 2016 when there was only one terminal, and soared to the all-time highest level of approximately 250 billion cubic feet (7.1 billion cubic meters) in January 2020.