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US crude oil production increased by 2% in 2024 (+270 kb/d)

According to the US Energy Information Administration (EIA), the US crude oil production increased by 270,000 bbl/d  in 2024 to average 13.2 mb/d. Most of the production came from the Permian region (Texas and southeastern New Mexico), which produced 48% of the country’s total crude oil production despite a decrease in the number of active drilling rigs in 2024 (26 fewer rigs than in 2023). In total, the region's production increased by 370,000 bbl/d to average 6.3 mb/d. Crude prices allowed oil-directed drilling in the Permian region at US$77/bbl in 2024, with a break-even price of US$62/bbl in the Permian Midland Basin and US$64/bbl in the Permian Delaware Basin. 

Among the most prolific regions are also the Eagle Ford and Bakken regions, which contributed each with 9% of the country's crude oil production in 2024, although their production remained mostly stable with a rise of 13,000 bbl/d to an average of 1.2 mb/d. 

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