Saudi Arabia will likely see the United States surpass it as the biggest liquid petroleum producer in the world, it has been reported.
The change may happen this week, according to The Times, which pointed out that the shift would end Saudi Arabia's twenty-year streak as the biggest producer.
The United States now produces nearly 12million barrels each day, as opposed to 8million barrels three years ago, the newspaper reported.
On Monday, the head of the west's energy watchdog said the vast majority of shale oil in the United States is produced at costs far below the current price of crude, which means U.S. projects can withstand the market slump squeezing other producers.
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2 comments:
Ok then. Time to cut off ties with the middle east, pack up, bring everyone home, and close off the country.
WHERE ARE all these so called Politicians that swear they are here to help us during the election time and now we can't find them as we deserve answers on WHY the price of gas is so high today when oil prices are dropping like rocks and we are in line to be the largest oil producer in the world ??? Hell go to these Oil Producing countries and see what they pay for gallon of Gas you would be MAD...So POLICTICANS why is our gas prices so high ??? We deserve answers and NOW as we voted for you when u asked and now we need answers NOW ??
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