Facts about oil and gas and interesting statistics sure to test your knowledge. These facts about oil and gas cover a wide range of aspects related to the industry, from its history and exploration to production, refining, and global impact. Learn more about the crude oil and natural gas industries!
Also see our Oil and Gas Fun Facts blogs.
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The First Oil Well: The world’s first commercially successful oil well was drilled in Titusville, Pennsylvania, in 1859 by Edwin Drake. Source: American Chemical Society
A standard barrel of oil is 42 gallons or 159 liters.
Source: Wikipedia.org
The term “barrel of oil equivalent” (BOE) is used to standardize the measurement of different energy sources.
In 2019, US oil production reached 17 million barrels per day to lead the world.
Source: Statista.com
The United States led the world in total petroleum production, ahead of Saudi Arabia and Russia in 2017.
Source: CNN World
The Permian Basin is the largest petroleum-producing basin in the United States and has produced a cumulative 28.9 billion barrels of oil and 75 trillion cubic feet of gas.
Source: Wikipedia
Some attribute production from the Permian Basin to the Allied victory during World War II. At the time, the Permian Basin was responsible for half of the world’s oil and gas production, helping fuel the tanks, jeeps, ships, and planes the Allies used to win the war.
Source: Drilling & Geophysics Society of Dallas
Another of our interesting facts about oil and gas is that the United States is the world’s largest consumer of petroleum products.
Source: CNN World
In 2016, about 25% of the petroleum used in the United States was imported. About 38% of this petroleum is imported from Canada.
Source: CNN World
No discovery had as great an impact on Texas’ oil production than the discovery of oil at the Spindletop well located south of Beaumont. Spindletop brought in over 17 million barrels of oil in 1902 alone.
Source: Texas Almanac
🛢️ 1. It’s Called “Black Gold” for a Reason
Crude oil is one of the most valuable natural resources on Earth, earning the nickname “black gold” due to its economic importance.
🕯️ 2. It Was First Used for Light
Before fueling engines, crude oil was mainly refined into kerosene for lamps in the 1800s. Electricity eventually took over, but oil stayed relevant.
🌍 3. Crude Oil Comes in Many Flavors
Not all oil is the same! Crude varies in color, thickness, and sulfur content. For example, Brent Crude and West Texas Intermediate are two famous types.
⛽ 4. One Barrel, Many Products
A single 42-gallon barrel of crude oil produces not just gasoline, but also diesel, jet fuel, heating oil, lubricants, asphalt, and even plastics.
📦 5. It’s in More Than Just Fuel
Beyond energy, crude oil derivatives are found in toothbrushes, eyeglasses, deodorant, crayons, synthetic fabrics, and even medical devices.
⛏️ 6. The First U.S. Oil Well Was in 1859
The modern oil industry began in Titusville, Pennsylvania, where Edwin Drake drilled the first successful oil well. It launched a global energy revolution.
🌊 7. Offshore Drilling Goes Deep
Some offshore oil rigs extract crude from depths of over 30,000 feet below the ocean floor. These floating giants are engineering marvels.
💰 8. Oil Prices Affect Everything
From food to airfare to freight, fluctuations in oil prices have a ripple effect on the global economy due to oil’s role in transportation and production.
🚗 9. The U.S. Is a Top Oil Producer
Thanks to shale drilling and advanced technology, the United States has become the world’s leading oil producer, surpassing Saudi Arabia and Russia.
🌋 10. Natural Oil Seeps Exist
Long before drilling, crude oil naturally seeped to the surface in some areas. Ancient peoples used it to waterproof boats and even for medicinal purposes.
🌍 1. It’s Millions of Years Old
Natural gas was formed from ancient marine organisms buried under layers of sediment and rock for millions of years, making it one of the oldest sources of energy we use today.
🔥 2. It’s (Almost) Odorless
Natural gas is naturally colorless and odorless. The distinctive “rotten egg” smell comes from added mercaptan, a safety measure to help detect leaks.
🚀 3. NASA Uses It Too
NASA has used liquefied natural gas (LNG) as rocket fuel due to its high energy content and cleaner burn compared to other fuels.
💡 4. It’s a Major Electricity Source
In the U.S., natural gas generates around 40% of the country’s electricity, more than any other energy source.
🍔 5. It Can Power Your BBQ
That backyard grill may run on propane, but propane is actually a byproduct of natural gas processing!
🚗 6. You Can Drive on It
Compressed Natural Gas (CNG) is used to fuel buses, taxis, and even personal vehicles in many parts of the world. It’s often cheaper and cleaner than gasoline.
🌡️ 7. It’s Stored Underground
The U.S. stores billions of cubic feet of natural gas in underground salt caverns and depleted oil fields to prepare for seasonal demand swings.
🛢️ 8. It’s Often Found with Oil
Natural gas is often discovered in association with oil reserves, especially in shale formations—sometimes flared off if infrastructure isn’t available.
🏠 9. It Heats Half of U.S. Homes
Over 50% of American households use natural gas for heating—it’s a staple of modern comfort.
🌎 10. The U.S. Is a Global Leader
Thanks to the shale revolution, the United States is the world’s largest natural gas producer and a leading LNG exporter.
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