U.S. Takes Top Spot in Crude Production, with $4.2 Billion in Project Starts in Fourth Quarter

SUGAR LAND--September 13, 2018--Researched by Industrial Info Resources (Sugar Land, Texas)-- The U.S. seized the crown in global crude oil production earlier this year, according to the U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook. U.S. production surpassed that of Saudi Arabia in February for the first time in more than two decades, and surpassed Russia over the summer for the first time since February 1999. The EIA believes the U.S. will continue to exceed its rivals for the remaining months of 2018 and through 2019. Industrial Info is tracking more than $4.2 billion in active U.S. crude oil production projects that are set to begin construction in the fourth quarter, and nearly $3.2 billion worth that are set to wrap up in the same period.

Within this article: Details on major U.S. crude oil production projects that are beginning or ending construction in the coming quarter, including those from key companies such as Royal Dutch Shell plc (NYSE:RDS.A), Oceaneering International Incorporated (NYSE:OII), Chevron Corporation (NYSE:CVX), Equinor ASA (NYSE:EQNR) and ConocoPhillips (NYSE:COP).