| The U.S. shale oil and gas renaissance has effectively stripped Russia from its status as biggest non-OPEC oil producing state. And Russia won’t recover for the next 25 years. Or more, according to the U.S. Energy Information Agency.
U.S. oil and gas production is seen going from 9.8 million barrels a day in 2011 to 14.2 million per day in 2020. By then, Russia will produce an average of 10.7 million barrels daily. And while Russia’s oil production will rise by an average of 0.6% year over year between now and 2040, U.S. oil production will be a little bit better, at around 1% growth per year...............................................Full Article: Source
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