*US upstream producers continue to preach capital discipline despite president Trump’s ‘drill, baby drill’ rhetoric. But the country’s output of crude, gas and NGLs nevertheless hit new record highs for 2024, as did exports on both a gross and a net basis. And both official forecasts from the US government’s Energy Information Administration (EIA) and MEES analysis of corporate filings suggests more records to come for 2025 and 2026.
*Crude output (including field condensate) rose 2.2% or 284,000 b/d to a record 13.22mn b/d for 2024. And this was outstripped by a near-7% (445,000 b/d) rise to 6.94mn b/d for NGLs to see the country’s total liquids production surge through the 20mn b/d barrier to a record 20.16mn b/d (see chart 1). (CONTINUED - 1537 WORDS)
