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American Oil Refinery with US Flag 2019

US Emerges Into 2019 as the World's Largest Crude Oil Producer!



The us has become he world's largest oil producer. The US currently is producing 11.6 million bpd. It is speculated that the continued development of US oil will continue to weigh on 2019's crude oil prices even with OPEC's agreed 1.2 million bpd reduction. The Unites States is not alone Saudi Arabia and Russia also reached record levels of production this year. Brent prices are forecasted to remain in the high 60's to low 70's for the next year.