Oil exports from the United States will increase significantly by 2020


The United States will become a net exporter of oil by 2020 due to increased production, according to a report by the Information Department at the US Department of Energy. As oil product production grows, the United States will reduce domestic oil consumption and increase the supply of raw materials to other countries. The United States will remain a net exporter of natural gas, coal, and coal coke until 2050. The report provides information that natural gas exports will continue to grow, as liquefied natural gas (LNG) is becoming an important export item. LNG supplies from the United States will increase until 2030, including to Canada and Mexico, and then begin to decline until 2050. The demand for American LNG in the North American and global markets is maintained at a decent level due to low and stable prices.

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