02 Nov, 23

How Permian Innovations Propelled U.S. Crude Production To New Heights

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With core OPEC+ cartel members Russia and Saudi Arabia doing everything in their power to throttle oil output and push the price of oil higher, the US is again emerging as not only a thorn in OPEC’s side but as the marginal producer of world oil. According to EIA data, US crude oil production hit an all-time high in August, as production surpassed pre-covid levels. US field production of crude oil reached 404.6 million barrels during the month of August, new EIA data showed, for an average of 13.05 million barrels per day, breaking the previous…

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