U.S. to become top oil producer
The U.S. is poised to overtake Russia as the world’s biggest oil producer by 2019 at the latest, the International Energy Agency predicts, as the country’s shale oil boom continues to upend global markets


U.S. PETROLEUM PRODUCTION
Million barrels per day (m bpd)
Includes crude oil and natural gas liquids

Russia
Saudi Arabia
United States

U.S. output forecast to average 10.8m bpd in 2018, rising to 11.8m bpd in 2019

Late 2017: U.S. production rises above 10m bpd for first time since 1970s, overtaking Saudi Arabia

Soaring U.S. production comes as other major producers – including Russia and OPEC members –
are withholding output to prop up prices


12.5
10
7.5
5
2.5
	2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019


Source: International Energy Agency 
© GRAPHIC NEWS