question about US production numbers

[jande + 1]

New here and struggling to understand US crude oil production numbers. The whole thing doesn't make any sense to me. 

It has been said that US production numbers are 12 Million Bpd.  

But based on number of oil rigs, there were 2000 rigs before, now the number of rigs is approaching 500,.. it is like 75% down. Lets say that would meant total production numbers is 3 million barrels per day. I understand rig and rig counts are directly related on total output.  Are they? 

Also, I read gazillion times that US consumption is 21 million barrels per day. See how massive the difference is.. Does somebody understand what the real numbers are, and how come after collapsing rig numbers during the last couple of years, they are still talking about 12 million of barrels per day while the rigs collapsed that much?.

 

[the_phoenix612 + 9]

Oil rigs drill new wells.  Production comes from wells that have already been drilled. 

A falling rig count means fewer new wells are being drilled --> future production is likely to contract as new wells are not being brought online to counter the production decline of existing wells.  But it has little to do with current or near-term production totals. 

Hope that helps!

[jande + 1]

Yep,.. thanks.  So I assume if rig count approaches 0,.. then no new wells coming online, and, in year or two, when existing wells dry out,.. there will be no oil extraction from shale? Is my assumption is correct?