US oil production on the rise

US oil production from 1990-2040 (Source: EIA, 2012)
US oil production from 1990-2040 (Source: EIA, 2012)

The United States is facing a major boom in unconventional energy production. Advances in drilling technologies have put the US on course to become the world’s largest oil producer by 2020 which could have far-reaching consequences for global energy markets, the US economy and Washington’s relationship with the Middle East.

THE US is riding high on an energy boom and is set to become the world’s number one oil producer by 2020 – knocking Saudi Arabia off the top spot.

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This could redraw the global energy map, with potentially far-reaching consequences for energy markets and trade, says the International Energy Agency (IEA).

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