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US oil production reaches lowest level since 2018

Oil production in the US is currently at the lowest level since 2018. Despite its lowered production, the US still has an abundance of oil stockpiled, show figures from the EIA.

Photo: Reuters/Ritzau Scanpix

Production of oil in the US is currently the lowest it has been since 2018, and yet the country's stockpiles are at a record high, writes Financial Times.

While the US crude oil production currently sits at 10.5 million barrels per day, stockpiles have grown to 539 million barrels, reveal figures from the Energy Information Administration, EIA.

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