• The U.S. Could Soon Reclaim the World's Oil Crown

    10 days ago - By Fortune

    It's a gusher.
    U.S. oil production could reach 11.8 million barrels a day next year, the U.S. Energy Information Administration predicts in its July short-term energy outlook. That would make it the world's biggest oil producer, ahead of Saudi Arabia and Russia, for the first time since the mid-1970s.
    As a result, American oil imports could drop as low as 1.6 million barrels a day, which would be the lowest level since 1958.
    America's massive production capacity has helped it reshape the world energy market and given it diplomatic leverage. Late last month, for example, the U.S. asked...
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  • The U.S. Moves Closer To Oil Independence

    The U.S. Moves Closer To Oil Independence

    10 days ago - By ETF Daily News

    From Steven Vannelli, CFA : The US shale boom has led to a surge in the production of crude oil, and much of this production has been exported in recent years.
    In the chart below, I plot the gross exports of crude oil from the US. Beginning with almost nothing several years ago (in part because crude exports were banned until December 2015), US daily crude exports have eclipsed two million barrels per day.
    More impressive is the growth in refined petroleum exports. US exports of refined petroleum products now exceed five million barrels per day.
    So, the sum of US crude and refined product...
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