U.S. leads global oil and gas production in 2020

According to news from Hydrocarbon Processing on July 19, although the U.
S.
oil and gas production has declined year-on-year compared with the record production in 2019, in 2020, U.
S.
oil and gas production has exceeded that of any other country (this trend Since 2014)
.
The total oil and gas production of the United States in 2020 is 66.
9 trillion British thermal units, exceeding Russia's 45.
5 trillion British thermal units and Saudi Arabia's 26.
5 trillion British thermal units
.


In 2020, the production of oil and natural gas in these three countries has declined due to the rapid decline in demand during the COVID-19 pandemic, and the price of crude oil has fallen accordingly, especially in the first quarter of 2020
.
As part of the OPEC agreement, Saudi Arabia and Russia agreed to reduce crude oil production, but in the United States, production cuts were mainly due to reduced tight oil investment due to oil prices, and to a lesser extent due to unplanned shutdowns
.


Petroleum production includes several types of liquid fuels, including crude oil and condensate, natural gas liquid (NGPL) and bitumen
.
U.
S.
oil production has fallen from 31.
8 trillion British thermal units in 2019 to 30.
4 trillion British thermal units in 2020
.
Crude oil and condensate accounted for the largest share of the decline, at 1.
9 trillion English units
.
In contrast, due to the increase in domestic consumption and export of ethane, NGPL production in 2020 will increase by 0.
4 trillion British thermal units
.


  The decline in demand caused by the new crown epidemic has a much smaller impact on natural gas production
.
In Russia, due to lower-than-normal winter temperatures from 2020 to 2021, and the increase in electricity generation from renewable energy sources in the EU, natural gas production has fallen
.
Russia's natural gas production fell by 2.
1 trillion British thermal units, almost the same as the 2.
3 trillion British thermal units in oil production
.