# US oil production tops 10 million barrels a day for first time since 1970

> Government monthly data showed U.S. crude oil production topped 10 million barrels per day in November, the first time since 1970. Analysts expect output to rise by more than 1 million barrels per day in 2018 and possibly exceed 12 million by the end of 2019.

- Date: 2018-01-31 · published 2018-01-31T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/67157-us-oil-production-tops-10-million-barrels-a-day-for-first-time-since-1970
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Sustained output growth above 10 million barrels per day adds supply to global markets and can cap crude price rallies, which would lower energy costs for feed and freight.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-03-09 | [WTI oil prices fall below $50 for first time since December](https://feedsoft.ai/events/8365-wti-oil-prices-fall-below-50-for-first-time-since-december.md) | -2.9% | +2.3% |
| WTI | 2017-03-08 | [Oil Drops Below $50 for First Time Since December on Supply Glut - Bloomberg](https://feedsoft.ai/events/8362-oil-drops-below-50-for-first-time-since-december-on-supply-glut-bloomberg.md) | -10.3% | -3.5% |
| WTI | 2022-08-03 | [Oil Falls Below $90 for First Time Since War as Demand Slows - Bloomberg](https://feedsoft.ai/events/12800-oil-falls-below-90-for-first-time-since-war-as-demand-slows-bloomberg.md) | -4.1% | -4.5% |
| WTI | 2025-12-11 | [IEA lowers 2026 oil glut forecast for first time since May \| Reuters](https://feedsoft.ai/events/21664-iea-lowers-2026-oil-glut-forecast-for-first-time-since-may-reuters.md) | -4.4% | +0.7% |
| WTI | 2024-11-01 | [US Oil Production Hits Another Record, Adding to Supply Worries](https://feedsoft.ai/events/27770-us-oil-production-hits-another-record-adding-to-supply-worries.md) | +4.5% | -1.9% |
| BRENT | 2017-03-09 | [WTI oil prices fall below $50 for first time since December](https://feedsoft.ai/events/8365-wti-oil-prices-fall-below-50-for-first-time-since-december.md) | -3.7% | +1.3% |
| BRENT | 2017-03-08 | [Oil Drops Below $50 for First Time Since December on Supply Glut - Bloomberg](https://feedsoft.ai/events/8362-oil-drops-below-50-for-first-time-since-december-on-supply-glut-bloomberg.md) | -9.1% | -3.0% |
| BRENT | 2025-12-11 | [IEA lowers 2026 oil glut forecast for first time since May \| Reuters](https://feedsoft.ai/events/21664-iea-lowers-2026-oil-glut-forecast-for-first-time-since-may-reuters.md) | -4.0% | +2.5% |

## Sources

- cnbc.com: https://www.cnbc.com/2018/01/31/us-oil-production-tops-10-million-barrels-a-day-for-first-time-since-1970.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.