EIA: Petroleum Other Liquids

What is Petroleum?

Petroleum is a naturally occurring, flammable liquid found in the Earth's crust. It is composed of a complex mixture of hydrocarbons, including crude oil, natural gas, and other liquids.

US Petroleum Production

The United States is a major producer of petroleum. In 2022, the US produced approximately 11.6 million barrels of petroleum per day.

Petroleum Prices

The price of petroleum is determined by a variety of factors, including supply and demand, geopolitical events, and economic conditions. In recent years, the price of petroleum has been volatile, driven by factors such as the COVID-19 pandemic and the ongoing conflict in Ukraine.

Petroleum and the Environment

Petroleum is a major source of energy, but its production and use can have negative impacts on the environment. These impacts include air pollution, water pollution, and climate change.

Petroleum and the Future

The future of petroleum is uncertain. As the world transitions to renewable energy sources, the demand for petroleum is expected to decline. However, petroleum will continue to be a major source of energy for many years to come.