US energy output hits record high in 2024

The US’ energy production exceeded 103 quadrillion British thermal units (Btu) in 2024, marking a new record high and a 1% increase over the previous record set in 2023.

The US Energy Information Administration (EIA) data indicated that natural gas accounted for nearly 38% of total energy production, maintaining its position as the nation's primary energy source since 2011.

Dry natural gas production reached about 38 trillion cubic feet, largely unchanged from 2023.

US crude oil production reached a record high of 13.2 million barrels per day (bpd) in 2024, a 2% rise year-on-year (YoY), accounting for approximately 27% of total energy production.

According to the EIA report, coal production last year reached 512 million tons, its lowest annual level since 1964, representing nearly 10% of total US energy production in 2024.

Natural gas liquids, which include fuels such as ethane and propane, constituted about 9% of the US energy production, reaching a record 4 trillion cubic feet in 2024, a 7% increase YoY.

Meanwhile, renewable energy saw significant growth, with biofuels, wind, and solar power reaching new record levels, with annual growth rates of 6%, 8%, and 25%, respectively.