U.S. Seen as Biggest Oil Producer after Overtaking Saudi Arabia – Grant Smith (Bloomberg)
(dailyalert.org, July 7, 2014)
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.
The country became the world’s largest natural gas producer in 2010.