BP Statistical Review of World Energy June 2015

Reports and presentations on the European Gas Market
European Gas Hub Analysis
Published 06/18/2015 by BP

The most significant development on the supply side in 2014 was undoubtedly the continuing revolution in US shale. The US recorded the largest increase in oil production in the world, becoming the first country ever to increase average annual production by at least 1 million barrels per day for three consecutive years.

The US replaced Saudi Arabia as the world’s largest oil producer – a prospect unthinkable a decade ago. The growth in US shale gas in recent years has been just as startling, with the US overtaking Russia as the world’s largest producer of oil and gas. 

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