U.S. to Eclipse Saudi as World’s Top Oil Producer

- November 12th, 2012

CNBC reported that the U.S. will surpass Saudi Arabia as the world’s largest oil producer by 2017, and become self-sufficient in oil and gas production.

CNBC reported that the U.S. will surpass Saudi Arabia as the world’s largest oil producer by 2017, and become self-sufficient in oil and gas production.

As quoted in the market report:

The recent rebound in U.S. oil and gas production, driven by upstream technologies that are unlocking light tight oil and shale gas resources, is spurring economic activity – with less expensive gas and electricity prices giving industry a competitive edge,” it added.

To view the whole CNBC report, click here.

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