| Oil production in America is booming, especially after the discovery of shale oil in regions of North Dakota and Texas. The development of these resources is now beginning to have a huge impact on the global hydrocarbon markets, as evidenced by a report from the Energy Information Association (EIA) which states that, last month, shale oil production had reached 7.4 million barrels per day.
Further, an estimate by the International Energy Agency (IEA) projects that the world’s largest economy will achieve shale oil production of 9 million barrels a day by 2018. In fact, some believe that the country will surpass Saudi Arabia in oil production by 2020, underscoring America’s dramatic rise up the oil charts..............................................Full Article: Source
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