US Extends Lead As World Number One Oil Producer

US Crude oil production is up 600,000 barrels per day since the start of 2019 to 12.3 million barrels per day.

EIA forecasts that U.S. production will increase by 1.4 million b/d in 2019 and by 0.9 million b/d in 2020, with 2020 production averaging 13.3 million b/d. 2020 should have peak production of over 14 million barrels per day.

Russia has been average 11.1 million barrels per day of crude production but currently has a short term problem lowering production to 10.9 million barrels per day.

Saudi Arabia crude oil production is about 9.7 million barrels per day.

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