It was just a matter of time, and it happened under President Donald Trump.
AMERICA is ready to unseat Saudi Arabia as the number two oil supplier in the world, second just to Russia, the International Energy Agency has reported.
“This year promises to be a record-setting one for the US,” the IEA wrote in its monthly market report. “Relentless growth should see the US hit historic highs above 10 million barrels per day, overtaking Saudi Arabia and rivaling Russia during the course of 2018 – provided OPEC/non-OPEC restraints remain in place.”
OPEC nations have been nervous about America’s energy producing capabilities since the nation’s export of shale oil reserves increases month by month.
“US growth in 2017 beat all expectations … as the shale industry bounced back, profiting from cost cuts, (and) stepped up drilling activity,” the IEA added. “Explosive growth in the US and substantial gains in Canada and Brazil will far outweigh potentially steep declines in Venezuela and Mexico. The big 2018 supply story is unfolding fast in the Americas.”