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