• AutoTL;DR@lemmings.worldB
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    1 year ago

    This is the best summary I could come up with:


    When President Joe Biden took office in January 2021, the U.S. was producing 11 million barrels.

    When former President Barack Obama took office in January 2009, the U.S. was producing around 5 million barrels of crude oil.

    The increase comes amid production cuts by Organization of Petroleum Exporting Countries (OPEC) members over the past year.

    “Growth in the United States and Brazil is outperforming forecasts, helping to propel global supply higher by 1.7 million barrels per day to a record 101.8 million barrels per day in 2023,” the IEA said in its November report.

    There has been no material impact on oil supply flows from the war between Israel and Hamas that started in early October."

    “A temporary easing of U.S. sanctions on Venezuela in late October is expected to have only a marginal impact on supply, as production increases from the country’s battered oil sector will take time and investment,” the IEA report said.


    The original article contains 451 words, the summary contains 155 words. Saved 66%. I’m a bot and I’m open source!