The U.S. may be set to overtake Saudi Arabia as the world’s largest oil producer, but that...

|By:, SA News Editor

The U.S. may be set to overtake Saudi Arabia as the world’s largest oil producer, but that probably won’t translate into lower prices at the pump. More U.S. production does not mean lower prices because total supply and demand is what matters; even if the U.S. relied only on domestic oil, prices would still be dictated by global market forces, Ben Casselman writes.