US Oil Production Soars to Record Highs, Easing Gas Prices Though Politics Still Simmer
• US on track to produce record 13.3 million barrels of oil per day in Q4 2022, more than any country ever • Strength of US oil output catching experts off guard, helping keep lid on global prices • Gas prices have fallen from near $4 to around $3 per gallon, easing inflation • Despite record production, Biden criticized by GOP for "war on domestic energy" • Presidents have limited control over US oil output, set mainly by free market