U.S. Poised to Surpass Saudi Arabia as World’s Top Crude Oil Producer
Soaring domestic production levels means the U.S. is ready to pass both Saudi Arabia and Russia to reclaim the title of the world’s biggest crude oil producer. It last held that position in 1974.
The U.S. Energy Information Administration made the forecast and predicts that U.S. output will grow next year to 11.8 million barrels a day. The rise comes on the back of U.S. innovation in the field of hydraulic fracturing, or fracking, and horizontal drilling.
As a consequence, American oil imports could drop as low as 1.6 million barrels a day, which would be the lowest level since 1958.
https://www.breitbart.com/jerusalem/2018/07/12/u-s-poised-to-surpass-saudi-arabia-as-worlds-top-crude-oil-producer/