Source: EIA, Table 11.1b. Penmex Statistical Yearbook, North Sea is Norway and the UK.

Oil Production of Some Declining Regions, 1973-2009

The Third Oil Shock (2003-2008) corresponded to the joint decline in the production of several regions in the western hemisphere, particularly the North Sea (supplying Europe) and Mexico (supplying the United States). For the United States, decline in production has been ongoing since the early 1970s when peak production was reached.

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