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United States to surpass Saudi Arabia in oil exports
Energy - MARCH 21, 2019

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United States to surpass Saudi Arabia in oil exports

by Andrea Zander

The United States will surpass Saudi Arabia later this year in exports of oil, natural gas liquids and other petroleum products, such as gasoline, according to a report by Rystad Energy, an independent oil and gas analysis and consulting company based in Oslo, Norway.

It will make United States the world's leading exporter of oil and liquids. That has not happened since Saudi Arabia began selling oil overseas in the 1950s.

Saudi Arabia currently exports about 7 million barrels of crude oil each day, along with 2 million barrels of natural gas liquids and petroleum products.

In 2020, the United States is expected to import more energy than it imports, also another historic first.

American drilling innovations have opened up large areas of oil and natural gas resources trapped in shale oilfields in Texas, North Dakota and elsewhere. Led by shale, U.S. oil production has more than doubled over the past decade to all-time highs. The United States now pumps mo

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