Breitling Oil and Gas Morning Podcast #97 June 22th, 2012
The United States is seeing a dramatic surge in oil and gas production and could overtake the world’s biggest producers, Russia and Saudi Arabia, in another decade, a US official said.
In the last quarter the US produced six million barrels of conventional and unconventional oil a day, he said, adding: We haven’t done that in 15 years.
Since 2008, the US added 1.6 million barrels of additional oil, and in 2011, the US registered the largest increase in oil production of any country outside of OPEC, he told hundreds of participants.
These figures compared to a daily output in March of about 9.923 million barrels a day by Saudi Arabia, the largest producer of the OPEC nations, and 9.920 million by Russia