The US produced more oil than it imported for the first time in the last 21 years.

The world's largest oil consumer, the United States, has produced more oil than it imported for the first time in the last 21 years. In the statement made by the American Energy Information Administration, it was reported that the USA produced an average of 7,7 million barrels of crude oil per day in October, while the oil it imported was 7,6 barrels per day.

In the statement, it was noted that for the first time since February 1991, the amount of oil imported by the USA, the world's largest importer of crude oil, was less than it produced. It was stated that the USA reached the highest production rate in the last 2 years with the amount of oil produced in September.

The main reason for the decrease in the “energy intensity” of the USA is the increase in the use of fuel-efficient vehicles.

On the other hand, in the International Energy Agency's (IEA) "World Energy Outlook 2013" report on energy trends, it was estimated that crude oil prices would rise to $2035 per barrel by 128.

The report also estimated that the United States will overtake Saudi Arabia and Russia to become the world's number one oil producer in 2016. According to the report, after 2020, Saudi Arabia will surpass the United States in oil production.

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Source : news

 

 

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