Oil Price-

The United States this year became the largest crude oil producer, surpassing Russia and Saudi Arabia, according to preliminary estimates from the Energy Information Administration.

Although following the June 22 agreement between OPEC and Russia to up production to rein in prices Russia increased its output by more than 200,000 bpd, the average since the start of the year is higher for the United States, where drillers have evidently taken full advantage of higher prices and relatively low costs.

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