U.S. Now Produces More Oil Than Saudi Arabia – 13 June, 2018

Last week, U.S. gasoline consumption rose to a record high of 9.88 million barrels per day, with crude inventories falling by 4.1 million barrels to 432.4 million barrels due to high demand. The U.S. is currently producing more oil than Saudi Arabia, rising 30 percent in two years, and is sitting close to top global producer Russia. Brent crude futures are at $76.46 per barrel down 0.4 percent and 28 cents. West Texas Intermediate crude futures were down 6 cents from their last close at $66.58.