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U.S. to surpass Saudi Arabia as top oil producer by 2016

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LONDON - The United States will stride past Saudi Arabia and Russia to become the world's top oil producer by 2016, the West's energy agency said, bringing Washington closer to energy self-sufficiency and reducing the need for OPEC supply.

But by 2020, the oilfields of Texas and North Dakota will be past their prime and the Middle East will regain its dominance - especially as a supplier to Asia, the International Energy Agency (IEA) said on Tuesday.

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