CNBC | US oil production tops 10 million barrels a day for first time since 1970 CNBC U.S. crude oil production broke 10 million barrels a day in November for the first time since production peaked in 1970, at the start of a decades long decline. The U.S. is the world's third largest oil producer, and its status is growing. Russia is ... Shale powers US oil output to heights of 1970 Qatar is paying the price for Saudi Arabia's oil strategy in Asia US oil output tops 10m barrels a day |