An overview of reserves and extraction for each period: U.S. Petroleum Production by Extraction Type (1950-2024) Peak and Current Production Type Peak Production Peak Year Current (2024) % of Current Total Conventional 9.0 mbpd 1970 2.0 mbpd 14.7% Alaska Prudhoe Bay 2.0 mbpd 1989 0.6 mbpd 4.4% Offshore 2.0 mbpd 2022 2.0 mbpd 14.7% Fracking/Shale … Continue reading 5 Major U.S. Production Phases