US Setting Historic , Oil Production Record.br A recent report revealed that the United States br is currently on track to produce more oil br than any other country in history. .br CNN reports that the news comes br amid calls by activists for President br Joe Biden to phase out fossil fuels.br CNN reports that the news comes br amid calls by activists for President br Joe Biden to phase out fossil fuels.br According to a December 19 report by S&P Global br Commodity Insights, the U.S. is on track to produce br 13.3 million barrels of crude per day - a global record.br Last month, the Energy Information br Administration said that weekly U.S. oil br production had hit 13.2 million barrels per day. .br That's just above the 13.1 million record set br in early 2020 under the Trump administration.br That's just above the 13.1 million record set br in early 2020 under the Trump administration.br CNN reports that the surge in production br has been driven by oil drillers in Texas br and New Mexico's Permian Basin. .br Output is reportedly so high that br the U.S. is exporting oil overseas.br According to the S&P, the U.S. is exporting as br much crude oil, natural gas liquids and refined br products as both Saudi Arabia and Russia.br It’s a reminder that the U.S. br is endowed with enormous br oil reserves. Our industry should br never be underestimated, Bob McNally, President of Rapidan Energy Group, via CNN.br S&P projections sugest that global demand for br crude oil is on track to hit a record in 2024, br but could "easily be met" by the surge in supply.