Energy News

US will become the top oil producer

Tue, November 12, 2013 at 12:23 AM

The International Energy Agency (IEA) predicts that the United States will surpass Saudi Arabia to become the world's top oil producer in 2017, only to fall back behind the Middle East again by 2020, according to a Reuters report.  

The IEA also made the following forecasts in its latest outlook:  

  • Oil prices will continue to rise steadily in the foreseeable future.  
  • The US will continue to lead in in tapping shale.  
  • China will overtake the US as the largest oil consumer by 2030.  

Click here  to go to the Reuters' website for the full report.

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