The United States achieved record highs in both oil production and exports during the month of April. As the conflict in Iran has disrupted shipping in the Persian Gulf, global buyers have turned to American petroleum to secure alternative supplies.
Since the onset of the Iran war, hundreds of millions of barrels of U.S. crude oil and fuel have been shipped from ports in Texas and Louisiana. The most severe energy supply disruption in history has forced buyers in Europe and Asia to scramble for purchases. Data released by the U.S. Department of Energy on Tuesday reflects the resulting boom in the American oil industry.
According to figures from the U.S. Energy Information Administration, U.S. onshore pumpjacks and offshore drilling rigs produced an average of 13.93 million barrels of oil per day in April, setting a new record for the highest monthly production level in U.S. history. U.S. oil exports in April also reached a record high of 13.6 million barrels per day, an increase of 2.3 million barrels per day compared to the pre-war level in February.
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