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U.S. Oil and Gas Output Surges the Most Ever for a Single Country
U.S. natural gas and crude oil production increased last year at the fastest pace ever for a single country.
U.S. gas output soared 86 billion cubic meters in 2018, the largest annual increase by any country ever, according to statistics published Tuesday by BP Plc. That’s roughly equivalent to consumption in the U.K., one of the oldest users of the fuel, and almost 40% more than the previous record set by Russia in 2010.
And in a twin first, U.S. oil output jumped 2.2 million barrels a day -- also the largest amount ever by a single country in a year.
“What you saw last year was really quite amazing -- this amazing unique double first for the U.S.,” said Spencer Dale, BP’s global chief economist. “This is pretty astonishing growth and I don’t think this is some sort of unique aberration. This is a function of the U.S. shale revolution in both oil and natural gas -- it’s alive and well and it’s powering strongly.”
https://www.bloomberg.com/news/articles/2019-06-11/u-s-oil-gas-output-surges-the-most-ever-for-a-single-country
U.S. gas output soared 86 billion cubic meters in 2018, the largest annual increase by any country ever, according to statistics published Tuesday by BP Plc. That’s roughly equivalent to consumption in the U.K., one of the oldest users of the fuel, and almost 40% more than the previous record set by Russia in 2010.
And in a twin first, U.S. oil output jumped 2.2 million barrels a day -- also the largest amount ever by a single country in a year.
“What you saw last year was really quite amazing -- this amazing unique double first for the U.S.,” said Spencer Dale, BP’s global chief economist. “This is pretty astonishing growth and I don’t think this is some sort of unique aberration. This is a function of the U.S. shale revolution in both oil and natural gas -- it’s alive and well and it’s powering strongly.”
https://www.bloomberg.com/news/articles/2019-06-11/u-s-oil-gas-output-surges-the-most-ever-for-a-single-country
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