|By Marketwire .||
|October 29, 2012 06:15 AM EDT||
SUGAR LAND, TX -- (Marketwire) -- 10/29/12 -- Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas) -- High prices and new drilling methods are driving a sustained boom in U.S. hydrocarbon production, which could see the U.S. overtake Saudi Arabia and Russia and return to the No. 1 global oil producer spot for the first time since 2002. U.S. oil production is set to rise 7% in 2013 to reach an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.
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