U.S. Crude Output Set to Pass Saudis and Rival Russia: Report
Wednesday, January 24, 2018
The International Energy Agency predicted Friday that the U.S. will surpass Saudi Arabia in crude output this year and will challenge Russia as the world's top producer on the back of "explosive" growth in shale production.
Why it matters
While the report is consistent with existing production forecasts, it nonetheless starkly underscores how the U.S. has upended global markets in recent years.