U.S. shortly outperforms Saudi Arabia in oil-exporting

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U.S. shortly outperforms Saudi Arabia in oil-exporting

The United States has temporarily overtaken Saudi Arabia as well as Russia to the top spot of the world’s top oil exporter for the first time this year.

The massive shale production of the U.S. accounted for 3 Million barrels per day in June, extending its total oil exports to almost 9 Million barrels per day.

Saudi Arabia reduced crude exports and some other energy goods as it observes OPEC’s effort to increase prices. Russia, on the other hand, limited its exports due to pipeline troubles that distribute oil to central and Eastern Europe.

After the month of June, Saudi Arabia snatched the top spot for oil exports for two consecutive months in July and August.

But the U.S.’ reign in June as top oil exports gave the oil market the impression that the U.S is becoming to be one of the world’s most influential energy producers.

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