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Oil and gas production boom could see USA overtake Russia, Saudi Arabia
- USA: Thursday, June 14 - 2012 at 10:53
The US 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, AFP has reported. "Some of the numbers are eye-popping," Daniel Sullivan, commissioner in Alaska's Department of Natural Resources, told a panel of experts at the International Economic Forum of the Americas in Montreal. In the last quarter, the US produced six million barrels of conventional and unconventional oil a day, he said. "We haven't done that in 15 years," he added. Since 2008, the US has added 1.6 million barrels of additional oil, and in 2011, it registered the largest increase in oil production of any country outside of Opec, Sullivan said. These figures compare with a daily output in March of about 9.923 million barrels a day by Saudi Arabia and 9.920 million by Russia, according to data compiler Joint Organizations Data Initiative.
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StaffThursday, June 14 - 2012 at 10:53 UAE local time (GMT+4)
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