EIA: US probably became biggest oil producer this year
Tuesday, September 18, 2018
The Energy Information Administration believes the United States likely overtook Russia and Saudi Arabia in terms of oil output, becoming the world’s biggest oil producer earlier this year, according to Bloomberg.
For the first time in more than two decades, U.S. crude output exceeded that of Saudi Arabia in February, based on preliminary estimates from the agency’s Short-Term Energy Outlook. Then, in June and August, it overtook Russia for the first time since 1999.
Additionally, the EIA expects U.S. oil output to continue to exceed Russian and Saudi production for the rest of 2018 and in 2019.
Learn more: Bloomberg > U.S. Likely Became Biggest Oil Producer Earlier This Year: EIA
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