Oil and gas take center stage today in MetalCrawler as the US makes gains in total production and refinery capacity.
US Beats Russia as Top Oil and Gas Producer
The US has topped Russia as the biggest oil and natural-gas producer in a demonstration of the seismic shifts in the world energy landscape emanating from America’s shale fields.
US oil production rose to a record last year, gaining 1.6 million barrels a day, according to BP’s Statistical Review of World Energy released recently. Gas output also climbed, putting America ahead of Russia as a producer of the hydrocarbons combined.
The data showing the U.S.’s emergence as the top driller confirms a trend that’s helped the world’s largest economy reduce imports, caused a slump in global energy prices and shifted the country’s foreign policy priorities.
US Refinery Capacity Up, Too
US operable atmospheric crude distillation (CDU) capacity increased by 0.2% in 2014, reaching 18 million barrels per day (b/d) according to the Energy Information Administration‘s recently released annual Refinery Capacity Report. This was the second consecutive year of modest capacity growth following the 2.9% increase in 2012 that resulted from the restart of East Coast refineries that had closed in 2011.