Date: 9 months ago   Category: Economy

The new leader in oil production has appeared in the world - EIA

Saudi Arabia and Russia on oil production volumes for the first time in decades, according to preliminary data, was overtaken by other country. The USA in August, 2018 for the first time since 1999 has bypassed Russia on this indicator, writes management of power information of the Ministry of Energy of the country (EIA). America has outstripped Saudi Arabia on oil production in February. "Though EIA doesn't publish forecasts for oil production in Russia and Saudi Arabia in the short-term forecast, the management expects that volumes of production in the USA will continue to exceed the corresponding indicators of Russia and Saudi Arabia in the remained months 2018 and in 2019", – notes management. According to preliminary data, average daily oil production in the USA in August, 2018 has made 10,9 million barrels a day that on 120 thousand barrels a day it is more, than in June. It is noted that extraction of crude oil began to grow in the country quickly since 2011. However according to information posted on the website by the Ministry of Energy of the Russian Federation in August Russia has extracted 47,409 million tons of oil that about 11,2 million barrels a day are equivalent that there is a little more indicator of the USA for the same period. Photo: EIA to Share: production leader oil volume Russia Saudi Arabia of the USA photo