The US Energy Information Administration (EIA) has recorded that an average of 13.4 million bpd of crude oil was produced in the United States during August 2024, a new record according to data from EIA’s Petroleum Supply Monthly. More crude oil was produced in the United States during August 2024 than during December 2023, when the previous monthly record of 13.3 million bpd was set.
In the first eight months of 2024, average monthly US crude oil production only fell below 13.0 million bpd once, in January. For the full year of 2024, we forecast US crude oil production will average 13.2 million bpd, according to EIA’s most recent Short-Term Energy Outlook, published on 13 November. That volume would be more than the 2023 annual average of 12.9 million bpd, which is the current annual production record. In 2025, EIA forecasts US crude oil production will average 13.5 million bpd. The United States became the world’s top crude oil producer in 2018, a position it has maintained each year since.
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