US Oil Output to Overtake Saudi Arabia’s by 2020

Shutterstock photo

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.

Read More on International Business Times

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Commodities

More from International Business Times


International Business Times

International Business Times

Research Brokers before you trade

Want to trade FX?

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by