US soon to leapfrog Saudis, Russia as top oil producer

FAN Editor

The U.S. is on pace to leapfrog both Saudi Arabia and Russia to become the world’s biggest oil producer.

Continue Reading Below

The latest data released by the Energy Information Administration shows U.S. output growing again next year to 11.8 million barrels a day.

Linda Capuano, who heads the agency, says that would make the U.S. the world’s No. 1 producer.

The director of the International Energy Agency, a group of oil-consuming countries, made a similar prediction in February.

Russia and Saudi Arabia pumped more crude than the U.S. last year.

Production is booming in U.S. shale fields because of newer techniques such as fracking and horizontal drilling.

Free America Network Articles

Leave a Reply

Next Post

4 Reasons to Invest in Emerging Markets

This article was originally published on ETFTrends.com. By Ryan Gilmer, CFA – VP Investment Management – TOPS ETF Portfolios After struggling for years relative to US stocks, emerging markets led major assets classes in 2017 with a return of 37.28% for the MSCI Emerging Markets Index. This year, however, the […]