The US domestic oil industry closes a remarkably strong 2023

January 2, 2024

As 2023 comes to a close, the United States is producing more oil and more natural gas than ever before, even in the face of efforts by government planners to force a move to other, greener, sources of energy. In fact, thanks to a major uptick in per-well recoveries in shale wells, the US is now producing more oil per day than any single nation has ever achieved. The fact that this has all been accomplished despite a domestic rig count that dropped by well over 20% during the year, according to Enverus, makes this one of the most remarkable outcomes in the industry’s long history.

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