US set to overtake Saudi Arabia and rival Russia in crude output:
"US crude production is on course to overtake Saudi Arabia and rival Russia, the International Energy Agency said, as it revised higher its 2018 growth forecast and stressed that “explosive” expansion in shale was offsetting Opec-led supply cuts. In its closely watched monthly oil market report published on Friday, the IEA said production growth was returning “to the heady days of 2013-2015”, even as the Paris-based body said global supply and demand would broadly find balance this year. The latest body to raise US estimates, following the US energy department’s statistics arm and Opec’s own research unit, the IEA said: “This year promises to be a record-setting one for the US.”"
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