Inside Track
United States Soon to Pass Saudi Arabia in Oil Exports
Rystad Energy, an independent oil and gas analysis and consulting company based in Oslo, Norway, released a report on March 7 stating that the United States will surpass Saudi Arabia later this year in exports of oil, natural gas liquids, and other petroleum products, such as gasoline.
Saudi Arabia currently exports about seven million barrels of crude oil each day, along with two million barrels of natural gas liquids and petroleum products, but the United States will exceed those numbers this year, according to Rystad.
U.S. exports of oil have not exceeded Saudi Arabia’s since the Middle Eastern nation first began selling oil overseas in the 1950s.
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