USA surpasses Saudi Arabia in exports thanks to shale oil

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For a short time, the United States surpassed Saudi Arabia as older exporter world oil company, said today International Energy Agency (IEA) by providing its monthly report on the oil market.

In June, the rise in the production of shale oil or shale oil in the US it favored the largest exports of that country and thus surpassed Saudi Arabia.

IEA too warned of an offer too large and its impact on prices, and attributed the threat of surplus to that much crude is being extracted outside the states of the Organization of Petroleum Exporting Countries (OPEC), especially in the US, as a result of fracking.

As for your forecasts for what's left of 2019 and 2020, the IEA assesses that despite the weakened global situation, oil demand will not yield and that's why he keeps his forecasts.



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In its August report, it estimates that 100.3 million barrels per day (1.1 million more than in 2018) will burn on average in the world and in 2020, 101.6 million barrels (1.3 million more ).

In any case, the condition for this scenario to be concretized with these forecasts is that the negotiations for the commercial war between the US will not fail. and China, and tensions relax with Iran.



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https://www.cronista.com/internacionales/EE.UU.-superaa-Arabia-Saudi-en-exportaciones-gracias-al-shale-oil-20190912-0012.html

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