“U.S. Will Be the World’s Largest Oil Producer by 2023, Says IEA”

U.S. Will Be the World’s Largest Oil Producer by 2023, Says IEA
By Sarah Kent and Timothy Puko
The Wall Street Journal
March 5, 2018

The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday. U.S. crude production is expected to reach a record of 12.1 million barrels a day in 2023, up about 2 million barrels a day from this year, said the International Energy Agency, which advises governments and corporations on industry trends. American oil output will surge past Russia, currently the world’s largest crude producer at about 11 million barrels a day.

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American influence on global oil markets is also expected to rise, with U.S. oil exports more than doubling to 4.9 million barrels a day by 2023, according to the IEA. Until 2015, the U.S. didn’t export any crude oil by law, but in five years it is expected to be among the world’s biggest exporters.

Counting all liquids, including those derived from natural gas, U.S. production will rise to nearly 17 million barrels a day over the next five years from about 13 million today, the IEA said, far more than Saudi Arabia or Russia.

Read more at the Wall Street Journal.

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terry
4 years ago

Time for America to reap some benefits that have left our shores over the years, in TAX PAYER FUNDS, . We need to do this to start working back to eliminating our 20 T. debit. Won’t happen over night, but if one never starts , it will continue to sink America.

James Rust
James Rust
4 years ago

We should be the world’s largest oil producer by the end of 2019 and get larger. We have huge oil reserves, the people to exploit it, and a President who recognizes the value of the U. S. being independent and dominant in energy production.

dennis
4 years ago

I ask liberals one thing!!!! How else can the world keep up with you insatiable drive to keep your cell phones and electronics along with electric cars that are made of more pollutants than normal cars??? They do it with petroleum products!!!! Even the plastics in your computer are made from petroleum!!!

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