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Oil Production Exceeds 10 Million Barrels A Day For The First Time Since 1970

Oil production peaked 10 million barrels
Oil production has reached its peak for the first time in 48 years.

Oil production peaked at over 10 million barrels a day this past November. This was the first time since 1970 that the United States has seen barrel production this strong.

CNBC reported, “Unlike 1970, U.S. oil production in 2018 is on an upswing, and U.S. shale and other producers are expected to add more than 1 million barrels a day this year alone for an average production rate government forecasts put at 10.3 million barrels a day”.

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