Global Oil Production

U.S. crude oil production averaged 9.4 million barrels per day (b/d) in 2015, and it is forecast to average 8.8 million b/d in 2016 and 8.7 million b/d in 2017. Forecast production in 2017 is more than 0.1 million b/d higher than in last month's STEO.

http://www.eia.gov/outlooks/steo/report/global_oil.cfm

Saudi Arabia crude oil production is the highest at 10.6 million barrels per day (b/d).  Russia is second at 10.3 b/d. The US is third at 8.8 b/d.

http://www.tradingeconomics.com/venezuela/crude-oil-production

The US is likely to prepare to increase its oil production in 2017 and actually increase it in 2018.

Oil prices are increasing to $50 per barrel. US oil production that doesn’t require fracking is profitable at $50 per barrel.  Fracking will resume as oil prices reach $60 per barrel.

http://www.cnbc.com/2015/05/05/oil-at-60-get-ready-for-frack-counterattack.html

Norb Leahy, Dunwoody GA Tea Party Leader