US on top in 2014 oil, gas production

Eagle Ford

EAGLE FORD, April 8, 2015 – The US produced more oil and gas than any other country in 2014, a report released by the US Energy Information Administration (EIA) on Tuesday said.

The rankings measured combined hydrocarbons output.

Russia took the second place, followed by Saudi Arabia. While the US and Russia split production evenly between oil and natural gas, Saudi Arabia’s output was heavily weighted towards oil.

According to the EIA, US hydrocarbons output has been on an upwards trend since 2008, and the country has ranked first globally since overtaking Russia in 2012. Oil production increased by 1.6 million barrels per day in 2014, while gas, boosted by shale developments in Texas and North Dakota, saw an increase of 394 mcm (13.9 bcf) per day.

Russia’s oil production increased in 2014, but its natural gas output dropped. The EIA cited a warm 2013-2014 winter and weak growth in European economies as main factors in reducing demand.

Saudi production of both oil and gas has remained steady since 2010.

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