Rising US Oil Production May Cut Saudi Influence In Washington

Economists say the United States is in the process of passing Russia and Saudi Arabia to become the world’s largest oil producer. This means less dependence on oil imports, stronger economic growth, and more latitude in dealing with political problems with Saudi Arabia and the rest of the Middle East. The growing use of advanced oil extraction techniques like “fracking” is boosting U.S. oil production sharply, according to the American Petroleum Institute’s Chief Economist John Felmy. He ...

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