US Poised To Become World’s Leading Liquid Petroleum Producer -- Financial Times
The US is overtaking Saudi Arabia to become the world’s largest producer of liquid petroleum, in a sign of how its booming oil production has reshaped the energy sector.
US production of oil and related liquids such as ethane and propane was neck-and-neck with Saudi Arabia in June and again in August at about 11.5m barrels a day, according to the International Energy Agency, the watchdog backed by rich countries.
With US production continuing to boom, its output is set to exceed Saudi Arabia’s this month or next for the first time since 1991.
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My Comment: And people were predicting the opposite only a few years ago.
Update: Here is an interesting read .... Why Peak-Oil Predictions Haven't Come True (Wall Street Journal).
Update #2: Russia is also experiencing an oil boom .... Russia Says Arctic Well Drilled With Exxon Strikes Oil (Bloomberg).
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