Money Morning | How Much Oil Does the US Have Compared to Other Countries? Money Morning From 2004 to 2011, Russian output beat U.S. output by an average of 11.2%. Saudi Arabia beat U.S. output by 24.3% over the same period. Now, the U.S. dominates the oil market as the world's leading producer. But with falling rig counts, can it hold on ... Has the oil rout actually helped Gulf producers? The world's biggest oil exporter has quietly seized a market milestone from ... OPEC may condemn the world to an oil glut for years |