America sets record in crude oil production and surpasses Saudi Arabia
US crude oil production rose to 10.25 million bpd between January 27 and February 2, marking the highest ever record in history.
According to data from the US Energy Administration released on Wednesday, the country's crude oil production increased by 332 thousand barrels per day in the period compared to the week earlier, to replace Saudi Arabia, which ranks second in the world.
At this rate, America surpassed its record level in November 1970, with a daily production of 10.04 million barrels.
According to the latest report of the Organization of Petroleum Exporting Countries (OPEC) on the oil market, issued in January, the rate of Saudi Arabia's crude oil production during December was 9.92 million barrels per day.
In its monthly "Short-term Energy Outlook" released yesterday, the Energy Department predicted that US crude oil production would rise to 10.59 million bpd in 2018 and 11.2 million bpd in 2019.