Record High U.S. Crude Oil Field Production
WEEKLY ECONOMIC UPDATE
May 28 – June 1
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CHART OF THE WEEK
Record High U.S. Crude Oil Field Production
U.S. field production of crude oil reached a record high for the month of February 2018, surpassing the previous record set in November 1970. This is a sharp turnaround from a decade ago when production had fallen to its lowest since the 1940s. (Weekly production for the week ending May 18 reached the highest rate since the beginning of that data series in 1983). This increased supply helps make America less dependent on foreign sources of oil.
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