Date: 2 months ago   Category: Financial

The USA for the first time in 45 years became the leader in oil production


The USA for the first time in 45 years became the leader in oil production
Oil production volumes in the USA, by estimation, have surpassed indicators of Saudi Arabia and Russia. The USA became the world leader in oil production for the first time in 45 years. The Administration of the USA according to power information reports about it. "This year the USA has probably bypassed Russia and Saudi Arabia, having become the largest producer of crude oil in the world", - it is said in the statement. At the same time in the USA have noted that these conclusions are based on estimation. "For the first time for more than two decades in February extraction of crude oil in the USA has exceeded her production in Saudi Arabia. In June and August of the USA have bypassed the Russian Federation on extraction of crude oil for the first time since February, 1999", - it is noted in the document. Experts of Administration in power information predict that the USA will extract more oil, than Saudi Arabia and Russia, within this and following years. "Reduction in cost of oil in the middle of the 2014th has led to the fact that the American producers have limited the expenses and have temporarily reduced oil production. However, after increase in prices at the beginning of the 2016th, investments and production have begun to grow. At the same time the Russian Federation and Saudi Arabia have kept rather stable level of growth of oil production in recent years", - they have summed up. The USA was the leader of world oil production during the most part of the XX century and till 1973 then have ceded at first the USSR, and then and Saudi Arabia. Earlier it was expected that the USA will be able to leave in world leaders in oil production in 2019. As it was reported, the USA for the second time in the history will open an oil stock. During the period from 2018 to 2025 the USA intends to sell 58 million barrels of oil from strategic stocks. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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