No Signs of Slowdown in These Oil and Gas Exploration Plays
Sometimes, economic forecasts are way off—in a good way. In late 2012, the International Energy Agency (IEA) predicted that the U.S. would surpass Saudi Arabia as the world’s leading oil producer within a decade.
It was announced last week that the U.S. is expected to best Saudi Arabia as the world’s biggest total supplier of oil this year (which includes natural gas liquids and biofuels). In 2013, the U.S. is expected to produce an average of 12.1 million barrels per day, which is 300,000 barrels per day higher than Saudi Arabia and 1.6 million barrels per day greater than Russia.
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