U.S. Oil Industry sets to become leading supplier in the world

With the massive explosion of the shale production; US now become the major crude-producing country with a huge production of more than 10 million barrel per day crude, which was unimaginable for most of the experts in this industry.

In the US, there is a major shift in the policy of crude oil production and marketing, which can be referred as the complete U-turn in the erstwhile policy and the mindset.

As consequences of this policy shift are now being seen, while the WTI futures trading volumes rushed ahead of the Brent and contracts of the US oil futures trading has almost doubled in the last decade.

With this increase in production rate, it is assumed that the US will overtake the output of Russian crude in the last quarter of 2018, which will make the country the leading global supplier of crude.

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