Daily Management Review

U.S. boosts oil production and exports to record highs in 2023


According to calculations by the US Department of Energy's Energy Information Administration (EIA), US oil exports rose by 13% from 2022 to a record 4.1 million barrels per day (bpd) in 2023.

Richard Masoner
Richard Masoner
Oil exports from the nation were prohibited until 2015, at which point they were permitted, with the exception of 2021.

2023 saw a 9% increase in US oil production to 12.9 million bpd, a historic high.

In 2023, 1.8 million barrels of US oil were exported each day to Europe, making it the region's primary destination. 1.7 million barrels per day were sent to Asia and Oceania in the previous year.

According to the EIA data, oil supplies from the US to China more than doubled to 452,000 bpd in 2023. US exports to India fell by 47% last year.

source: cnn.com