Top US Oil Suppliers Struggling With Output

As the focus of the global economy tilts toward oil-price talks in Saudi Arabia this weekend, consider a chilling set of numbers that speak to why oil prices are near $140 a barrel.

Oil output in four of the top five suppliers to the U.S. – the world’s biggest oil consumer – dropped by nearly 1 million barrels a day last year. Some of the declines were based on politics – Saudi Arabia, Nigeria and Venezuela – are members of OPEC, which has restrained output.

CattleNetwork