US Domestic Crude Oil Production

US domestic crude oil production reached a new all-time high in September 2023, exceeding previous records in November and December. This increase in production is attributed to advancements in technology, despite a decrease in active rig count. The US energy industry has experienced significant growth since the shale revolution, with Texas alone producing more than 5 million barrels per day. Several key factors, including favorable geology, limited federal regulations on state-owned lands, and the repeal of a ban on crude oil exports, have contributed to America's energy dominance.