A recent report from International Energy Agency said the U.S. briefly surpassed Saudi Arabia in June to become the No. 1 exporter of crude oil as record shale production reaches global markets. U.S. shipped almost 9 million barrels a day of crude and oil products in June to rank ahead of Saudia Arabia. And Bloomberg added, “There’s room to send even more supply overseas as companies add infrastructure to transport the burgeoning production from fields in Texas and New Mexico to the coast.” The Saudis reclaimed the title of top exporter in July and August as hurricanes disrupted U.S. production and international trade disputes “made it more difficult for shale shipments to find markets.”
