Ren茅 Muschter
Research Expert covering Industry & Mobility
Oil industry in the United States - statistics & facts
The United States is the largest oil producer in the world. Crude oil has been extracted there since the 1850s, and in the years since U.S. oil production has grown to over 20.1 million barrels per day. Crude oil is the main ingredient for a great variety of industrial products such as transportation fuels, plastics, solvents, and a source of electricity and heat generation.聽
Where oil reserves are found in the U.S.
The majority of crude oil withdrawn in the U.S. is taken from shale, carbonate, and sandstone reservoirs. The extraction of crude oil from shale deposits became more financially viable following technological advances in the early 2010s. The U.S. holds the ninth-largest oil reserves worldwide. Some of the drilling takes place on federal land. In 2024, the U.S. produced around one billion barrels of oil on federal land, a decrease from about 1.3 billion in 2023. The second Trump administration, however, wants to expand oil production and drilling on federal land.
