Oil and gas are two of the greatest energy sources in the
world. The demand for these resources is a lot which is why countries that have
oil and gas reserves are so successful. In the US, oil and gas production has
increased over the years. It has the ninth-largest oil reserves and fifth-largest
natural gas reserves.
The USA has been producing oil and gas since the 1800s. The
country has climbed its way to compete with one of the top countries in oil and
gas production. The US oil and gas companies account for a 24% share of a global
oil and natural gas brand value. By estimation, the US will be exporting more
oil than Russia and Saudi Arabia by 2024.
The US is a great producer but also a great consumer of oil
and gas. In 2018, the US produced 668 million metric tons of oil and consumed
919.7 million metric tons. As for gas, the country produced 832 million cubic
meters of natural gas and consumed a whopping 29.95 trillion cubic feet.
Infographic by: tactqinsights
