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The United States has overtaken Russia in August, shifting it from the position of the world’s largest oil producer thanks to the strongest annual growth in oil production in American history. The oil production has risen to a record 11.346 million barrels per day, according to a monthly report of the US Energy Information Administration. Russia has reached 11.21 million barrels per day in August, according to data from the oil ministry.

The US oil production increased by 2.1 million barrels compared to August 2017, which is the largest annual increase since 1920, when the data started tracked.

The oil companies have increased shale yields in Texas, Colorado and other states in response to the 48-percent rally in oil prices.

The US production from the Gulf of Mexico hit a new record as well as that in New Mexico, which has benefited from strong growth in the Permian Basin.

However, leadership as the world’s largest oil producer may be short, as in September Russia produced 11.37 million barrels per day, and the volume may have gone 11.4 million barrels in October.

Saudi Arabia and Russia have pledged to produce more oil to offset the downturns in Venezuela and to fill the supply shortages of US sanctions against Iran.