Q. Only three nations have ever increased their crude oil production by 900,000 barrels a day or more in the space of just a year. Name them.
A. Jim Burkhard, v ice president of oil market research for IHS, sponsor of the ongoing CERAWeek energy conference in Houston, told his audience the first occasion was Saudi Arabia in 1974 following the OPEC oil embargo that quadrupled the price of oil at the time. The other was Iraq in 1991 after the end of the war following its invasion of Kuwait. The third happened in 2012, in the United States and Iraq. Shale production boosted U.S. production above 7 million barrels a day for the first time in 20 years.
-- Jim Fuquay
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