NEW YORK (CNNMoney) – America could be crowned the oil world’s new king in 2018.
The United States is poised to ramp up crude oil production by 10 percent in 2018 to about 11 million barrels per day, according to research firm Rystad Energy.
Surging shale oil output should allow the United States to dethrone Russia and Saudi Arabia as the planet’s leading crude oil producer, Rystad predicted in a recent report. The U.S. hasn’t been the global leader, nor ahead of both Russia and Saudi Arabia, since 1975.