Annual US crude oil production reached another record level at 12.23 million barrels per day in 2019, according to the EIA. Annual U.S. crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11%, more than the previous year. The jump was smaller than the 17% growth rate in 2018. Monthly U.S. oil production in November 2019 averaged 12.86 million b/d, the most monthly oil production in U.S. history, according to the U.S. Energy Information Administration’s (EIA) Petroleum Supply Monthly. Oil production has risen notably during the past 10 years, driven largely by horizontal drilling and fracking operations, according to the EIA. Texas is still in the lead on producing more oil than any other state or region of the U.S., accounting for 41% of the nation’s 2019 total. According to the EIA, Texas oil production averaged 5.07 million […]