2020: That’s the year U.S. oil production will overtake Saudi Arabia if current rates of...

|By:, SA News Editor
2020: That’s the year U.S. oil production will overtake Saudi Arabia if current rates of production growth hold steady. U.S. output is on track to surge 7% this year, to 10.9M bbl/day - the biggest one-year gain in more than 60 years. The production turnaround is pushing down imports, too: Today, the U.S. imports just over 40% of its oil, the smallest share in 20 years.