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US Overtakes Saudi Arabia, Russia As ‘Biggest Oil Producer’

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Bloomberg
July 8, 2014

Bloomberg reported on July 4 that 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, according to Bank of America Corp. (NYSE: BAC).

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 (MMbbl) in the first quarter, the bank said in a report July 4. The country became the world’s largest natural gas producer ...


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