PIRA: The U.S. is now the world's no. 1 oil supplier

|By:, SA News Editor

The U.S. has passed Saudi Arabia as the world’s biggest oil producer, thanks to the fastest oil production expansion over a four-year period since the 1970-74 Saudi output surge, energy analysis firm PIRA says.

The U.S. growth rate is greater than the sum of the growth of the next nine fastest growing countries combined and has covered most of the world's net demand growth over the past two years, according to PIRA.

Total liquids produced by the U.S., defined broadly to include supplies such as crude oil, condensate, natural gas liquids and biofuels, should average 12.1M bbl/day in 2013, a 3.2M bbl/day jump from 2009.

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