USA for the first time in 75 years sold 211 thousand barrels of oil and oil products per day more than it imported. This was reported by Bloomberg.
It is noted that this situation has developed because of short-term and sharp decline in oil imports in the US, while increasing to a record level of export of hydrocarbons. It is noted that in the future the US will still buy a little more oil than sell, given the price changes in commodity markets.
So, this year imports exceeded exports by an average of 3 million barrels per day, while in 2005 this figure reached a peak of 12 million barrels a day.
“We become the dominant force in world energy, But due to the fact that changes are gradual, I don’t think this will lead to a real revolution. But you have to think that OPEC will take it into consideration, thinking about production cuts,” said the President of the analytical company Strategic Energy & Economic Research Michael Lynch.
In addition, it is reported that the United States experience a second shale revolution, and in the spring of 2019 promises to set a new record for production, breaking the mark of 12 million barrels of oil per day.
OPEC Ministers on 6 December because of Russia failed to agree on how to cut oil production in 2019, to avoid falling prices. Russia has refused to cut production in all circumstances.
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