Wall Street Journal | Oil Prices Tumble As Iran Sanctions Set In OilPrice.com U.S. monthly oil production jumped to 11.3 million barrels per day in August, a new all-time record high. Production in Texas topped 4.6 mb/d in August. - The jump was enough to make the U.S. the largest oil producer in the world, overtaking Russia's ... How Iran Sanctions Wrongfooted Oil Bulls Oil prices drop after Iran sanction carve-outs India aims to sign pact with Iran for oil payments in rupees |