The U.S. is on track to overtake Saudi Arabia as the world's biggest oil producer by 2015.
From The Wall Street Journal:
OPEC holds outsize sway in global oil markets, producing more than one out of every three barrels burned in the world. But its ability to move prices significantly has been hindered recently by a surge in non-OPEC crude, including a boom in U.S. production of shale oil.
The U.S. is on track to overtake Saudi Arabia as the world's biggest oil producer by 2015, according to the International Energy Agency.
OPEC holds outsize sway in global oil markets, producing more than one out of every three barrels burned in the world. But its ability to move prices significantly has been hindered recently by a surge in non-OPEC crude, including a boom in U.S. production of shale oil.
The U.S. is on track to overtake Saudi Arabia as the world's biggest oil producer by 2015, according to the International Energy Agency.
posted by Sid Cottingham | 9:40 AM
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