US Solidifies Position as World's Largest Crude Oil Producer
The United States has solidified its position as the world's largest crude oil producer, a trend that began in 2018 and continues to this day. According to data from 2025, the U.S. produced a record-high 13.6 million barrels per day (bpd), surpassing Russia with 9.9 million bpd, Saudi Arabia with 9.6 million bpd, and Canada with 5.0 million bpd by a wide margin.
The increase in production is attributed to higher drilling productivity and operational efficiency, which allows operators to extract more oil per well. The Permian Basin of Texas and New Mexico accounted for about 48% of total domestic production in 2025, contributing significantly to the country's overall output.
Global supplies outstripping demand led to lower prices, with West Texas Intermediate (WTI) dropping from an average of $77 per barrel in 2024 to $65 in 2025. Despite this, U.S. petroleum exports reached a record high in May, driven by disruptions in the Middle East and increased global demand for U.S. exports.
The shift towards shale oil and gas development has been highly beneficial, both economically and geopolitically. The U.S. industry has helped to dampen the effects of market disruptions and reduced the country's dependence on imports. However, high oil prices are still affecting household and business budgets, with inflation being a natural consequence.