PIRA Energy Group, a New York-based energy markets consulting firm, reports that the U.S. is the world's largest producer of oil in 2013, according to data presented at PIRA's recent Retainer Client Seminar in New York on Oct. 10-11.
The U.S. is expected to surpass Saudi Arabia and Russia in 2013. U.S. total supply for 2013 is expected to average 12.1 MMB/D, ahead of Saudi Arabia by 0.3 MMB/D and ahead of Russia by 1.6 MMB/D.
The U.S. has surged to be the world's lead oil supplier because of growth in shale oil. Shale crude and condensate production at 2.5 MMB/D in 2013 is now slightly over one-third of total U.S. crude production, and shale NGL at 1.2 MMB/D is almost half of total NGLs.
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