In the first half of 2018, we've already shipped almost 16 million barrels of crude to India, double what we sent in all of 2017. US crude oil production has reached a record high of 11 million barrels per day , a 16 % rise since the beginning of 2018 , to surpass Russia as the world ’s largest producer of crude oil . The new US crude oil market is expected to boost the economy further having a positive free cash flow for investors for the first time . Chinese tariffs could put pressure on West Texas Intermediate ( WTI ) , the US benchmark oil price , widening its discount to the global standard Brent , making WTI more attractive to foreign buyers .
US crude oil production has reached a record high of 11 million barrels per day , a 16 % rise since the beginning of 2018 , to surpass Russia as the world ’s largest producer of crude oil . The new US crude oil market is expected to boost the economy further having a positive free cash flow for investors for the first time . Chinese tariffs could put pressure on West Texas Intermediate ( WTI ) , the US benchmark oil price , widening its discount to the global standard Brent , making WTI more attractive to foreign buyers .