The U.S. will end 2013 as the worldÂ’s largest producer of petroleum and natural gas, surpassing Russia and Saudi Arabia, the Energy Information Administration said Friday.
The EIA estimated combined U.S. petroleum and gas production this year will hit 50 quadrillion British thermal units, or 25 million barrels of oil equivalent a day, outproducing Russia by 5 quadrillion Btu.
Petroleum production includes crude oil, natural gas liquids, condensates, and biofuels.
U.S. and Russian energy production over the past two years have been roughly equivalent. Since 2008, U.S. petroleum production has increased 7 quadrillion Btu, with “dramatic” growth in Texas and North Dakota, the EIA said.
U.S. natural gas production has risen 3 quadrillion Btu over the same period, the agency said, while Russia and Saudi Arabia each increased their combined petroleum and natural gas production by about 1 quadrillion Btu since 2008, the EIA said.