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    Home > Chemicals Industry > International Chemical > U.S. oil and gas production ranked first last year

    U.S. oil and gas production ranked first last year

    • Last Update: 2021-07-27
    • Source: Internet
    • Author: User
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      Sinochem News recently, the US "Hydrocarbon Processing" magazine released a statistical report showing that although the U.
    oil and natural gas production in 2020 has declined compared to 2019, its absolute production still exceeds that of any other country

    The total US oil and gas production 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


      The report shows that in 2020, the oil and gas production of the three countries, the United States, Russia and Saudi Arabia, will all decline due to the rapid decline in demand during the new crown pneumonia pandemic and the decline in crude oil prices, 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, as well as unplanned shutdowns

    In 2020, U.
    oil production will drop 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, reducing production by 1.
    9 trillion British thermal units

    In contrast, due to the increase in domestic ethane consumption and ethane exports, U.
    NGPL production increased by 0.
    4 trillion British thermal units in 2020


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