Record Oil Production in the U.S.

The United States has achieved record-breaking oil production, pumping more than 13 million barrels per day, surpassing any other country in history. This surge is largely attributed to advancements stemming from the shale revolution, which began around 2010 when new drilling technologies made it feasible to extract oil from previously untapped shale formations. Despite the U.S. being in a favorable position within the global oil market, President Trump’s administration has called for even higher production levels. However, the current market conditions and investor sentiments suggest that maintaining production levels is more feasible than aggressive expansion.