USA steals Russia's oil and gas leader status

USA steals Russia's oil and gas leader status

The United States has left Russia and Saudi Arabia behind in oil production. This has happened for the first time in 40 years, BP said in its yearly report. In 2014, the daily rate of production of "black gold" in the United States increased by more than 15%. Since the beginning of the current decade, the overall performance of the US oil production has grown by almost 50%.  

Also read: Who is standing behind declining prices?

Vyacheslav Kulagin, Director of the Energy Research Institute at Russian Academy of Sciences 

"It goes about the statistics from 2014. Accordingly, if you look at the statistics for 2015, the dynamics will be different. It has been announced recently that it is Russia that comes first in the world. In general, this is a story of Russia, Saudi Arabia and the United States alternating themselves as the leaders. About five years ago, the United States was seriously behind Russia and Saudi Arabia in terms of oil production. Today, the USA has increased production considerably. There are two factors that benefited to that: high oil prices that attracted good investment in project development and advanced technology in the field of non-traditional production."  

The US has taken advantage of its competitors in the field of gas production. In Russia, the figures have fallen by 4%.




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Author`s name Dmitry Sudakov