[thackney]

It wasnt the US supply that did that it was the Saudi actions (and others) to also increase production that made the price so low trying to effect a kill shot on the nascent US industry.

In the past 5 years:
US production grew by 75% (4.1 mmbpd)
Russia Production grew by 13% (1.2 mmbpd)
Saudi Arabia Production grew by 5% (0.5 mmbpd)

http://www.eia.gov/beta/international/data/browser/#?ord=CR&cy=201506&v=H&vo=0&so=0&io=0&start=201006&end=201506&vs=INTL.57-1-RUS-TBPD.Q~INTL.57-1-SAU-TBPD.Q~INTL.57-1-USA-TBPD.Q&c=000000000000000000000000000000000000000500000002&pa=00000000000000000000000000000000002&f=Q&ug=g&ct=0&tl_type=p&tl_id=5-Q&s=

In the past 3 years:
US production grew by 51% (3.2 mmbpd)
Russia Production grew by 2% (0.2 mmbpd)
Saudi Arabia Production grew by 3% (0.3 mmbpd)

[ChessExpert]

You da man