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US On Course To Overtake Saudi Arabia And Russia To Become The World’s Largest Crude Producer

US On Course To Overtake Saudi Arabia And Russia To Become The World’s Largest Crude Producer

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US oil production has returned to its record high some 47 years after the last Texas oil boom gushed to the previous mark in 1970. Soaring output from shale wells has put the US on course to overtake Saudi Arabia and Russia to become the world’s largest crude producer.
The Energy Information Administration estimated on Wednesday that US output was running at just under 10.04m barrels per day last November, fractionally below the previous record set in November 1970.