Within the last 3 weeks gasoline has gone from $2.69 to $2.49 a gallon.....Thank you President Trump for removing the Surrender Monkeys restrictions....now if New York would only allow fracking...fucking DemonRAT governor Cuomo!
The U.S. topped Saudi Arabia in oil exports in June as Riyadh complied with OPEC's production cut deal and shale production surged, according to an industry report Wednesday. Crude oil prices fell.
Already the No. 1 producer of oil, the U.S. exported nearly 9 million barrels per day of crude and oil products in June, beating Saudi Arabia and Russia, the International Energy Agency said in its monthly oil market report.
Saudi Arabia then retook the U.S. as top producer in July and August as hurricanes forced halts to production and shipments. But the U.S. could reclaim the title of top oil exporter later this year. The IEA said crude exports alone could rise 33% from June levels to as much as 4 million barrels a day as new export infrastructure comes online in Q4.
"Booming shale production has allowed the US to close in on, and briefly overtake, Saudi Arabia as the world's top oil exporter," the IEA said in its report. "The installation of the necessary pipelines and terminals is continuing apace, which will ensure that the trend continues."
(Excerpt) Read more at investors.com ...
Saudi Arabia can still out produce us...but they need the higher prices to support the country
The U.S. topped Saudi Arabia in oil exports in June as Riyadh complied with OPEC's production cut deal and shale production surged, according to an industry report Wednesday. Crude oil prices fell.
Already the No. 1 producer of oil, the U.S. exported nearly 9 million barrels per day of crude and oil products in June, beating Saudi Arabia and Russia, the International Energy Agency said in its monthly oil market report.
Saudi Arabia then retook the U.S. as top producer in July and August as hurricanes forced halts to production and shipments. But the U.S. could reclaim the title of top oil exporter later this year. The IEA said crude exports alone could rise 33% from June levels to as much as 4 million barrels a day as new export infrastructure comes online in Q4.
"Booming shale production has allowed the US to close in on, and briefly overtake, Saudi Arabia as the world's top oil exporter," the IEA said in its report. "The installation of the necessary pipelines and terminals is continuing apace, which will ensure that the trend continues."
(Excerpt) Read more at investors.com ...
Saudi Arabia can still out produce us...but they need the higher prices to support the country