EIA: U.S. Retains Top Nat Gas, Petroleum Production Crown

The United States stayed on top in 2017 in terms of its production of petroleum and natural gas hydrocarbons, according to the U.S. Energy Information Administration (EIA).

Since 2009, the United States has been the world’s top natural gas producer, surpassing Russia that year and beating Saudi Arabia in 2013 for the petroleum hydrocarbon crown. According to the EIA, the United States has seen its production of natural gas and petroleum increase by nearly 60% since 2008.

U.S. petroleum production increased by 745,000 barrels per day in 2017, driven by a 21% increase in oil prices to US$65 per barrel, the EIA said. In the United States, crude oil and lease condensate accounted for 60% of total petroleum hydrocarbon production in 2017, with natural gas plant liquids accounting for 24%.

Unfavorable economic conditions caused U.S. dry natural gas production to grow slowly in 2017, according to the EIA. During the last nine months of the year, however, production jumped and created a 5.7 Bcfd (0.16 X 10⁹ m³/d) difference between the first quarter and fourth quarter. From 2016 to 2017, domestic dry natural gas production increased by 1%, and U.S. liquefied natural gas exports quadrupled. Warmer winter weather and higher natural gas prices in 2017 left consumer natural gas demand mixed, the EIA said, adding that natural gas consumption for power generation decreased by 7% last year.