The world's largest oil producer is the United States?
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Now, the theme this timeis oil-producing countries.
Traditionally, the Middle East and Russia have attracted attention as oil-producing countries.
However, with the rise of shale gas and other developments, you know that the United States’ presence has become the focus now.
In this context, the U.S. government indicated on January 9 that crude oil production would increase to 10 million barrels per day as early as next month.
Thereafter, it is expected to exceed 11 million barrels in November 2019.
Russia’s 2017 oil production is about 11 million barrels, and Saudi Arabia’s December production is 10 million barrels (Bloomberg estimate), so the United States’ influence is becoming stronger and stronger.
Conversely, the influence of Middle Eastern oil producers is weakening.
If this threatens the price-determining power of Middle Eastern oil, Middle East stability could be jeopardized.
Note: The above is my personal opinion, and is intended solely to improve financial literacy. Therefore, it is not created for investment solicitation. Also, while the blog content is based on data from reliable sources, the administrator does not guarantee its accuracy. Actual investment decisions should be made at your own risk.
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