Drilling in the Eagle Ford Shale in Webb County, Texas The US is overtaking Saudi Arabia to become the world’s largest producer of liquid petroleum, in a sign of how its booming oil production has reshaped the energy sector . US production of oil and related liquids such as ethane and propane was neck-and-neck with Saudi Arabia in June and again in August at about 11.5m barrels a day, according to the International Energy Agency, the watchdog backed by rich countries. More On this story On this topic IN US Economy With US production continuing to boom, its output is set to exceed Saudi Arabia’s this month or next for the first time since 1991. Riyadh has stressed that the rise of the US should not detract from its own critical role in oil markets. It says it has the ability to increase its output by 2.5m b/d if […]