US Output Leaps 1.5mn B/D For 2023, Topping 20mn B/D For The First Time In Q4. Is Peak Output Near?

....93mn b/d and NGLs up 530,000 b/d at 6.43mn b/d, also a record (see chart 1 & p19 for full data). Last year’s gains were the fourth highest ever behind 2.2mn b/d for 2018, 1.8mn b/d for 2019 and 2014’s 1.7mn b/d. Of course, ‘boom’ in those previous cycles rapidly turned to bust as oil prices collapsed: ou...