Investment bank HSBC said Texas is on track to surpass Iran and Iraq to become the world's third-largest oil producer next year if it were a country. Output from the US state is seen reaching 5.6 million barrels per day in 2019, compared with a projected 4.8 million barrels per day for Iraq and 3 million barrels for Iran.
HSBC: Texas could pump more oil than Iran, Iraq in 2019
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