U.S. now world’s largest oil producer

U.S. now world’s largest oil producer

Friday, June 12, 2015 by Katie Woods

According to Fuel Fix, BP has announced that the United States passed Russia and Saudi Arabic in crude production last year, making the country the world’s largest supplier of oil.

This is the first time since 1975 that the U.S. has been the top producer of oil. U.S. shale drillers made up nearly 80 percent of the increase in production, which rose by 1.6 million barrels in 2014.

In North America, oil production grew while demand remained level. This contributed to the drop in oil prices from $100 last summer to about $60 now.

Via: Fuel Fix > BP: U.S. overtakes Russia and Saudi Arabia as largest oil producer

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Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.

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