U.S. set to overtake Saudi Arabia in oil output in eight years.

2020 - that’s the year U.S. oil production will overtake Saudi Arabia if current rates of production growth hold steady. U.S. output is on track to surge 7% this year, to 10.9M bps - the biggest one-year gain in over 60 years. The production turnaround is pushing down imports, too: today, the U.S. imports just over 40% of its oil, the smallest share in 20 years