Factual error in the article.
US oil production isn’t up one million barrels. It’s up MILLIONS of barrels a day, to the point where we’re now out producing Saudi Arabia, based in what I read.
Yes, the free market works every time it’s tried, and it’s largely thanks to the good ol USA that oil prices are falling. Don’t believe that? Take Americas oil production offline for six months and watch oil prices skyrocket back up.
It depends upon the time frame you are looking at.
That is only in total liquids, counting natural gas liquids, ethanol, bio-diesel, etc, as well as crude.
In only crude oil (and condensate), we produce ~9 MMBPD and the Saudis produce ~9.7 MMBPD.