US production a 'game changer' in oil market
But API says Obama govt stifling oil and gas industry with regulations
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Washington
THE top US oil lobby said on Tuesday that the oil market's muted response to the escalating crisis between Saudi Arabia and Iran shows US production has been a "game changer."
The United States now is the world's number one crude-oil producer and is "poised to remain a dominant global player, something that was unseen just a decade ago," said Jack Gerard, president and chief executive of the American Petroleum Institute, in an annual speech outlining the state of the industry.
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