U.S. Could Soon Pump More Crude Than Saudis Can at Their Peak - Bloomberg

U.S. Could Soon Pump More Crude Than Saudis Can at Their Peak - Bloomberg:

America’s journey to preeminence in the global oil trade is about to hit another milestone.

Propelled by the shale-oil boom, the U.S. is already producing more crude than either Russia or Saudi Arabia, who until recently vied for the top spot. By mid-year America will go one better.

At the moment, Saudi Arabia could raise production all the way up to its maximum capacity of 12 million barrels a day, surpassing the 11.8 million daily barrels produced by the U.S. in December, according to the International Energy Agency. Soon even that won’t be enough.