US claims title of world’s biggest oil-and-gas producer, feds say

ADVERTISEMENT
U.S. production is surging while Russian output dips after several years of gains, according to the brief report.

“Since 2008, U.S. petroleum production has increased 7 quadrillion [British thermal units], with dramatic growth in Texas and North Dakota. Natural gas production has increased by 3 quadrillion Btu over the same period, with much of this growth coming from the eastern United States. Russia and Saudi Arabia each increased their combined hydrocarbon output by about 1 quadrillion Btu over the past five years,” states EIA, which is the Energy Department’s independent data and forecasting arm.

The report finds EIA in agreement with a widely circulated Wall Street Journal analysis of global data published earlier this week that concluded the U.S. is overtaking Russia as the world’s top producer.

The EIA tally includes not only crude oil and natural gas but also “condensates, refinery processing gain, and other liquids, including biofuels,” EIA said.