- Home
- Business
- News
- US Surpasses Russia, Saudi Arabia as World's No. 1 Crude Oil Producer - Energy Department
US Surpasses Russia, Saudi Arabia As World's No. 1 Crude Oil Producer - Energy Department
Rukhshan Mir (@rukhshanmir) Published September 12, 2018 | 08:47 PM
US crude oil output surpassed that of Russia in August and June for the first time in more than a decade, making the United States the world's top oil producer ahead of both Russia and Saudi Arabia, the Energy Information Administration (EIA) announced in a press release on Wednesday.
WASHINGTON (UrduPoint News / Sputnik - 12th September, 2018) US crude oil output surpassed that of Russia in August and June for the first time in more than a decade, making the United States the world's top oil producer ahead of both Russia and Saudi Arabia, the Energy Information Administration (EIA) announced in a press release on Wednesday.
"In February, US crude oil production exceeded that of Saudi Arabia for the first time in more than two decades," the release stated. "In June and August, the United States surpassed Russia in crude oil production for the first time since February 1999.
In addition, EIA projected that US crude oil production would continue to exceed that of Russia and Saudi Arabia for the remaining months of 2018 and through 2019, the release explained.
The shift resulted from a rapid increase in US light sweet crude oil grades that began in 2011, the release explained.
Much of the recent growth has occurred in areas such as the Permian region in western regions of the states of Texas and eastern New Mexico, the Gulf of Mexico and the Bakken region in the states of North Dakota and Montana, the release noted.
Output for the world's top three producers in August was between 10 and 11 million barrels daily, according to a graphic accompanying the release.
Related Topics
Recent Stories
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
Today Gold Rate in Pakistan 23 April 2024
Islam enlightened world with its teachings about knowledge: Dr Jamileh
Record London close as oil prices drop on easing Middle East fears
TV tower in Kharkiv struck as Russia captured village
LCCI language courses from May 1
More Stories From Business
-
KPT shipping movements report
15 minutes ago -
Gold rates further decline by Rs.7,800 per tola to Rs.240,900
3 hours ago -
Tesla earnings a 'moment of truth' for Musk after stumbles
4 hours ago -
Foreign exchange rates
5 hours ago -
EXCHANGE RATES FOR CURRENCY NOTES
5 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
6 hours ago
-
Today Gold Rate in Pakistan 23 April 2024
7 hours ago -
Tokyo shares open higher
8 hours ago -
Pakistan commends CIDCA for Continued Support in Economic Development
14 hours ago -
Macro-economic indicators start showing positive trends in country
15 hours ago -
Record London close as oil prices drop on easing Middle East fears
16 hours ago -
LCCI language courses from May 1
16 hours ago