Learning With The Times: How Tight Oil Changed Global Petroleum Pecking Order


Learning With The Times: How Tight Oil Changed Global Petroleum Pecking Order

A recent International Energy Agency report has said the US will account for most of the world’s growth in oil supply in coming years. American output was at a record 10 million barrels a day November last, and expected to exceed 11 million this year. Here’s how US became a big oil producer:

When did the US become a big oil producer?

Contrary to popular notions, only two of the world’s five largest oil producers are from West Asia. The US, Canada and Russia make up the Big 5 of petroleum producers and the US is expected to overtake both Russia and Saudi Arabia in oil production in 2018. Read More…

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