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U.S. Seen as Biggest Oil Producer After Overtaking Saudi Arabia http://apocadocs.com/s.pl?1404821549
The U.S. will remain the world's biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation's economic recovery, Bank of America Corp. said.
U.S. production of crude oil, along with liquids separated from natural gas, surpassed all other countries this year with daily output exceeding 11 million barrels in the first quarter, the bank said in a report today. The country became the world's largest natural gas producer in 2010. The International Energy Agency said in June that the U.S. was the biggest producer of oil and natural gas liquids... The U.S., the world's largest oil consumer, still imported an average of 7.5 million barrels a day of crude in April, according to the Department of Energy's statistical arm.
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