Oil Output

The world production of petroleum in 1924 is estimated at 1,013,139,000 barrels. This is a new maximum record, since it squeezes ahead of the great 1923 annual output by 2,144,000 barrels. It is almost double the 1919 output of 544,885,000 barrels.

The U. S. again proved the largest petroleum producer, with a 1924 out put of 714,000,000 barrels, or 70.5% of the world's total. This was less than the 1923 record output of 732,407,000 barrels, but compares favorably with 557,531,000 barrels in 1922 and 472,183,000 barrels in...

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