Rising US oil production means that the US , Russia and Saudi Arabia all pump around 11 million barrels per day ( bpd ) , collectively about a third of global oil demand , according to EIA data . The bigger - than - expected US demand helped stabilise the price of oil after the US - China trade war put pressure on demand and US production The dispute has already led analysts to trim forecasts for energy consumption. fell a greater than expected 5.8 million barrels last year .
Rising US oil production means that the US , Russia and Saudi Arabia all pump around 11 million barrels per day ( bpd ) , collectively about a third of global oil demand , according to EIA data . The bigger - than - expected US demand helped stabilise the price of oil after the US - China trade war put pressure on demand and US production fell a greater than expected 5.8 million barrels last year .