US Oil Output to Overtake Saudi Arabia’s by 2020

By Paul A. Ebeling, Jnr.,

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US Crude Oil output is poised to surpass Saudi Arabia's in the 8 yrs, making the world's biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said.

Growing supplies of US Crude Oil extracted through new technology including hydraulic fracturing of underground rock formations will transform the U.S. into the largest producer for about 5 yrs starting about Y 2020, the Paris-based adviser to 28 nations said today in its annual World Energy Outlook.

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This article appears in: Investing Commodities
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