Wednesday, October 16th 2013 - 20:45 UTC

United States becomes world’s largest producer of oil in 2013

With the help from shale oil, the United States is the world's largest producer of oil in 2013, according to data presented at PIRA Energy Group's recent Retainer Client Seminar held in New York City.

With 12 million bpd the US is ahead of Saudi Arabia and Russia

The US has surged to be the world's lead oil supplier because of growth in shale oil. Shale crude and condensate production at 2.5 MMB/D in 2013 is now slightly over one-third of total US crude production, and shale NGL at 1.2 MMB/D is almost half of total Natural Gas Liquids (NGL).

US total supply for 2013 is expected to average 12.1 MMB/D. In 2012 the US overtook Russia to become the second largest supplier of oil and was just behind Saudi Arabia. Both the US and Saudi Arabia increased their supply in 2013, though production in the US grew at a faster pace. US total supply in 2013 is larger than that of Saudi Arabia by 0.3 MMB/D and ahead of Russia by 1.6 MMB/D. The fourth through 10th largest suppliers are: China, Canada, UAE, Iran, Iraq, Kuwait, and Mexico.

Total oil supply counts all forms of liquids supply. The largest part is crude oil, including condensates. In this category, the US is expected to produce 7.4 MMB/D, which is less than that produced in Saudi Arabia and Russia by roughly 3 MMB/D each. But the US has substantial other forms of supply, including natural gas liquids (NGLs) at 2.5 MMB/D, bio-fuels at 1.0 MMB/D, and “refinery gain” at almost 1.3 MMB/D. (Refinery gain measures the ability of a refinery to optimize its output through sophisticated high conversion capabilities).

US total supply growth in 2013 is seen at 1.0 MMB/D and about the same as last year's growth. Its growth rate is greater than the sum of the growth of the next nine fastest growing countries combined and has covered most of the world's net demand growth over the past two years.

According to PIRA the US position as the largest oil supplier in the world looks to be secured for many years. Although growth rates of US shale liquids are expected to become smaller in the future, PIRA's forecast sees the US increasing the lead over the next two largest countries until after 2020 a

9 comments Feed

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1 Anglotino (#) Oct 16th, 2013 - 09:46 pm Report abuse
Great news. Especially considering it means the odious regimes in countries such as Russia, Saudi Arabia and Venezuela take another step down the ladder of importance.
2 Gonzo22 (#) Oct 16th, 2013 - 10:28 pm Report abuse
Iraq, Afghanistan, Lybia, oh my, being a Unitedstatian is such a thrill!

@1 Saudi Arabia is an ally of the USA. How dare you call an ally of the US an odious regime? Remember who you are, Anglolatino.
3 Be serious (#) Oct 17th, 2013 - 04:04 am Report abuse
Don't consider the Saudi regime odious and Russia has come a long way from a long way back. Agree about Venezuela but change there is on the way.
4 bushpilot (#) Oct 17th, 2013 - 04:05 am Report abuse
There are a lot of people in the world who want to become “Unitedstatians”. There are lots of Argentines who would rather be American than Argentine.

Are there lots of Chilenos who think it would be “such a thrill” to be Argentine instead?

What about Argentina might make a person “not thrilled” to become a citizen of Argentina?
5 Captain Poppy (#) Oct 17th, 2013 - 02:23 pm Report abuse
Now that China just became the worlds largest importer of oil and the USA the largest producer of oil.......mmmmmmm. Interesting scenario.
6 ChrisR (#) Oct 17th, 2013 - 07:31 pm Report abuse
@5 Captain Poppy

China will be able to buy the oil with dollars your country paid them for the crap they supplied the US by the multi-containership load.

The USA has quite rightly been complaining about an imbalance in the trade with China, this should do something to correct that.

Now for the States to get China to respect patents! Don't hold your breath on that one.
7 Captain Poppy (#) Oct 17th, 2013 - 08:27 pm Report abuse
Crap they supplied us? Whats with a little poison in baby formula, lead in children's toys, tainted milk products, contaminated food amongst buddies.

One would have thought that we might and should supply out own country and sever ties with the middle east and let them do themselves in. We sell our souls for black gold.
8 JoseAngeldeMonterrey (#) Oct 18th, 2013 - 12:51 am Report abuse
The traditional big oil producers and in a catch-22 paradox: Shale Gas and Oil production from the US is rising ever more because oil prices are too high allowing the americans to pump oil out of rocks to have access to cheaper oil, they could kill that industry if only they´d increase production and allow oil prices to drop to less than 70 USD, where shale oil producers costs will squeeze their operations, but if they do that they will in turn lose billions of USD revenues themselves, but none in the OPEC will take the first step in that direction. The OPEC has finally met its nemesis.
9 Captain Poppy (#) Oct 18th, 2013 - 09:20 am Report abuse
Everything you said is true. They will have to collude to increase production so that no one company takes a pinch themselves. No one trusts the other. Either way it is unlikely to happen and USA shale pumps along. 2014 will be an even bigger production year.

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