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US oil production at highest level in four decades

In April the US oil production passed 11 million barrels per day, thus reaching the highest levels in more than 40 years. 20 million barrels per day is no longer impossible, says economist.

The US oil production has been decreasing for around four decades, but in light of the growth seen in the last five years the American oil producers are now producing more oil than they have in the past 44 years, according to the Financial Times.

In April the US oil production passed 11,27 million barrels per day, thus almost breaking the record-high production level in 1970, where this number surpassed 11.3 million barrels per day. This means that the United States is now producing the largest amount of oil in 44 years, and new growth rates even indicate that production has since April passed the level from 1970.

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