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Agency: U.S. top oil, gas producer

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The United States remained the world’s top producer of oil and natural gas hydrocarbons in 2015, according to new estimates from the U.S. Energy Information Administration.

U.S. oil and gas production first surpassed Russia in 2012, and the United States has been the world’s top producer of natural gas since 2011 and the top producer of oil hydrocarbons since 2013.

For the United States and Russia, total oil and gas hydrocarbon production, in energy content terms, is almost evenly split between oil and natural gas, EIA reported. By contrast, Saudi Arabia’s product heavily favors oil.

In the United States, crude oil and lease condensate accounted for about 60 percent of the total oil hydrocarbon production in 2015. Natural gas liquids accounted for an additional 20 percent of U.S. production. Biofuels and refinery processing gain make up most of the remaining U.S, oil and other liquids production volumes.Throughout 2015, U.S. crude oil prices remained relatively low, with the spot price of West Texas Intermediate crude oil declining from $47 per barrel in January to $37 per barrel in December. Despite low crude oil prices and a 60 percent drop in the number of operating oil and natural gas rigs, U.S. oil supply still increased by 1 million barrels per day in 2015. U.S. natural gas production increased by 3.7 billion cubic feet per day, with nearly all the increase occurring in Eastern states.

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