The United States produced more crude oil in October than it imported for the first time since early 1995, the Energy Information Administration said Wednesday.
The U.S. is still the world’s biggest oil-consuming nation and the largest importer of crude oil.
China is the world’s biggest importer of crude oil and refined petroleum products combined.
U.S. production has surged with horizontal drilling and hydraulic fracturing, particularly in North Dakota’s Bakken field and the Permian Basin in Texas.
Fuel efficiency in cars has also impacted U.S. oil consumption.
“U.S. crude oil production reached 7.74 million barrels a day in October, down slightly from September because of disruptions from Tropical Storm Karen, but up 17 percent from the year before. Aside from September, U.S. production in October was the highest level of any month since May 1989,” the Washington Post said.
Net crude oil imports in October fell to 7.57 million barrels a day, down from 7.92 million barrels in September and down 8 percent from the year before.