- Accuracy in Media - https://www.aim.org -

U.S. could soon overtake Russia as the World’s No. 1 Oil Producer

WASHINGTON — Russia, once the leading oil producer in the world, may fall to number 2 is the U.S. keeps up its current oil production pace.

fracking [1]Reuters reported [2] that the U.S. has seen an oil production boon since the advancement of hydraulic fracturing, or “fracking” as it is known colloquially.

The U.S. has fallen to the number 2 oil importer in the world, ceding the first place to China. Fracking [3] has reduced the need for importing more oil to meet American consumption demands as shale deposits have yielded great results.

The International Energy Agency, a Western energy watchdog, said that the U.S. is “in the driver’s seat of growth”.

It affects geopolitics as Russia cannot force the West to negotiate for oil prices with a rise in American-produced oil, and will now have to look to Asia to find this political and energy leverage.