US challenges Saudi Arabia and Russia in Crude Oil Production The US challenges Saudi Arabia and Russia in Crude Oil Production
Touching a new zenith of success, the United States of America has added a fresh badge of honor by becoming one of the top producers of crude oil globally. Joining the league alongside giants like Russia and Saudi Arabia, the US is pioneering the crude oil arena via a new extraction technique called fracking. Also Read: Ripple vs SEC Lawsuit: A Settlement on the Cards? The US is embracing the crude oil industry. Source: Pexels Per a recent report shared by Oil Price, the US has been leading the oil production arena since 2018. It all started in 2010 when an increased demand for domestic oil compelled the nation to explore “hydraulic fracking.” In simpler terms, fracking, or hydraulic fracking, is a technique deployed by engineers to extract crude oil from the earth’s surface. The technique entails cracking the surface of the earth open by injecting water, chemicals, and sand at high pressure. Also Read: Ripple vs SEC Law...