“The U.S. surpassed Saudi Arabia to become the world’s largest producer of crude oil, according to preliminary estimates from the U.S. Energy Information Administration (EIA).
“U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades,” EIA reported Wednesday. “In June and August, the United States surpassed Russia in crude oil production for the first time since February 1999.”
Indeed, U.S. drillers have continued to smash production records in 2018, including hitting 11 million barrels a day in output in July. That’s about double what the U.S. produced per day just eight years ago.”
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