Breitling Oil and Gas Morning Podcast #228 1-30-13

Topping the list of the big oil and gas stories in 2012 was the dramatic surge is US oil production. In 2013, the US will remain the largest source of new oil growth worldwide aided by the shale boom, but surpassing Saudi Arabia as the globe’s top oil producer by 2020 will be a challenge.

The big turnaround of US oil production brought by new light tight oil developments was fully recognized in 2012, putting to rest the long-held notion that domestic oil production was in terminal decline. The rise in domestic oil output and the expectation that US oil development will continue to grow amid high oil prices prompted some market observers to predict the US could become the world’s largest oil producer, upstaging Saudi Arabia, by 2020.

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