America has risen to the top the list of oil-producing countries for the first time in more than four decades, analysts believe.
The US overtook Saudi Arabia for monthly crude oil production back in February and likely surpassed Russia some time in June or August, new data shows.
It comes after the development of fracking led to a boom in shale oil production while massively reducing drilling costs.
America is the world's top oil producer after overtaking Saudi Arabia earlier this year and outpacing Russia at some point over the summer, analysts predict
The figures are based on preliminary estimates published by the US Energy Information Administration last week.
If confirmed, it would mark the first time since 1973 that the US has topped world rankings.
The agency said it expects the US to hold its position at the top of the chart for the remaining months of 2018 and throughout 2019.
After languishing at less than 6million barrels of oil per month between 2000 and 2011, American oil production began rapidly increasing from 2012 onwards.
That figure has now almost doubled in the last six years, though there was a dip between 2014 and early 2016 when the price of crude plunged and oil companies were forced to scale back operations.
The rise in American oil production comes after the development of fracking led to a shale gas boom, with Texas (pictured) now producing more oil than either Iraq or Iran
At the center of the boom is Texas, and in particular the Permian Basin in the west of the state.
The Lone Star state now produces so much oil that it would be ranked third in the world on its own if it were a country, outstripping the likes of Iraq and Iran.
A change in the law allowing US companies to export crude oil for the first time in 40 years also came into effect in 2015, further boosting production.
Meanwhile, the US has climbed up the rankings in terms of energy security because it relies less on foreign imports to meet its needs.
Linkhienalouca.com
https://hienalouca.com/2018/09/20/america-becomes-the-worlds-largest-oil-producer/
Main photo article America has risen to the top the list of oil-producing countries for the first time in more than four decades, analysts believe.
The US overtook Saudi Arabia for monthly crude oil production back in February and likely surpassed Russia some time in June or August, new data shows.
It comes after...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves Online news HienaLouca
https://i.dailymail.co.uk/1/2018/09/20/11/4418224-6188437-image-a-15_1537438785130.jpg
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