The US could become the world’s largest crude oil exporter next year. Several analysts told the news agency Reuters Confident. It should be noted that the US has been the global leader in crude oil exports in recent years, but since World War II, the country has always imported larger quantities than it exported. Analysts say that could change next year.
Why is this important?
Global demand for US oil supplies is increasing. Consumers are looking for alternatives to reduced supplies from Russia, which has been targeted by international sanctions for its aggression against neighboring Ukraine. Refineries in Europe and Asia rely heavily on US oil supplies.A significant twist: The US currently exports a record 3.4 million barrels of crude oil per day, and about 3 million barrels of refined products such as gasoline and diesel.
- US oil production has never exceeded 13 million barrels per day. However, US crude oil consumption is 20 million barrels per day. That is the largest block in the world. Until recently it was considered so
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