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U.S. Crude Oil Production Surpasses Saudi Arabia -- Global Leadership Possible in 2019
Industry Segment: North America | Word Count: 137 Words
SUGAR LAND, TEXAS--May 14, 2018--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--U.S. crude oil production has jumped by over 1 million barrels per day (BBL/d) over the last year, and further sharp gains are forecast, clear evidence that the transformation of the industry brought about by hydraulic fracturing is not nearly over. During the first quarter, U.S. production exceeded that of Saudi Arabia, making the U.S. the world's second-largest producer, after Russia. Some analysts expect the U.S. to overtake Russia by the end of next year, if not before.
Within this article: Growing U.S. oil production.
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