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Pic-of-the-Week: U.S. Crude Output Growing 4X Faster than Nat Gas (09/29/2014)

U.S. Crude Output Growing Four Times Faster than Natural Gas. The pace of growth in U.S. crude oil output is nothing short of remarkable. Oil output has risen at a 16.1% annualized pace since the beginning of the current cycle in July 2011. Total oil production is up almost 60% in three short years. Our pic-of-the-week shows that oil is also growing four times faster than the 4% annual growth rate of natural gas output since its cycle began in January 2006. For comparison, natural gas output is up roughly 40% in 8+ years.

potw_1_20140929

It is worth noting that some choose to date the beginning of the current crude oil cycle back to early 2009. While we think this is a bit too early, the growth rate remains at a brisk 8.0% annual pace, twice the rate of growth in natural gas.

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mcsnead

Mark C. Snead is President and Economist at RegionTrack.

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