![]() Many investors tend to classify any company related to the oil industry as an oil stock. oil stocks could fuel big-time gains for investors - which is why investors should take some time to get to know the sector's leading oil companies. Add that growth to the potential for oil prices to rise back above $100 a barrel in the next few years, and U.S. According to a recent forecast by OPEC, America's production of oil from shale resources alone should increase from 7.4 million BPD in 2017 to more than 16 million BPD by the late 2020s. With a vast supply of oil still underground, America's oil production appears poised to continue rising in the coming years. has quickly climbed up the global oil supply leaderboard, investors won't want to miss the fact that the country still has plenty of oil growth ahead of it. Why America's oil resurgence is important for investorsĪlthough the U.S. investors to buy their stocks.Ī row of oil pumps reflecting on the water. However, most of the largest oil producers in the states are headquartered in the U.S., which makes it easier for most U.S. In the U.S., on the other hand, hundreds of companies, including several foreign entities, operate producing wells. In Saudi Arabia, for example, Saudi Aramco is the nation's sole oil company, making it the largest oil-producing company in the world. ![]() What's unique about the oil market in America is that it isn't dominated by one national oil company, as is the case for most of the members of OPEC. That production level accounted for 15% of the world's total output that year, which was ahead of both Saudi Arabia (at 13%) and Russia (at 12%). ![]() pumped out an average of 14.5 million barrels per day (BPD), according to the Energy Information Administration (EIA). In 2017, the United States came out on top as the leading global producer of oil and other petroleum liquids. While many people assume Saudi Arabia is the world's largest oil producer, that's no longer the case. ![]()
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