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US will overtake Russia as biggest oil producer in 2019

According to IEA Executive Director Fatih Birol, the US could overtake Russia and become the world's largest producer of oil in 2019, reports Reuters.

Photo: PR-foto: IEA

By 2019 at the latest, Russia will have to step down from its position as the world's biggest oil producer. Instead, the US will take the throne and it could happen as early as this year, assesses Fatih Birol, Executive Director of the International Energy Agency (IEA).

"US shale growth is very strong, the pace is very strong (...) The United States will become the No.1 oil producer sometime very soon," the executive told Reuters.

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