US oil production has hit an all-time high of 13.2 million barrels daily, dwarfing Saudi Arabia’s 9 million per day.
They’re now producing more than any other country ever has.
Driven by the need to keep prices down at the pump, it’s a record the Biden administration is keeping surprisingly quiet about.
You won’t hear President Biden talking about it much, but a key record has been broken during his watch: The United States is producing more oil than any country ever has.
The flow of huge amounts of crude from American producers is playing a big role in keeping prices down at the pump, diminishing the geopolitical power of OPEC and taming inflation. The average price of a gallon of regular gasoline nationwide has dropped to close to $3, and analysts project it could stay that way leading up to the presidential election, potentially assuaging the economic anxieties of swing-state voters who will be crucial to Biden’s hopes of a second term.
The United States is producing about 13.2 million barrels of crude oil per day. That is millions of gallons more than is coming out of Saudi Arabia or Russia. It is more oil than was being produced even at its peak during the pro-fossil-fuels administration of former president Donald Trump, when production was 13 million barrels a day in November 2019.
Source: Washington Post
