The United States heads into the New Year producing more oil than any country in history, leading strong non-OPEC+ supply growth that will more than meet growing global demand, according to the latest oil markets outlook by S&P Global Commodity Insights.
US total liquids production for Q4 2023 stands at 21.4 million barrels per day (b/d), of which 13.3 million b/d is crude and condensate with the balance composed of natural gas liquids and biofuels. Both totals are global records