Energy Information Administration Says US Posts 1st Month in 70 Years as Net Petroleum Exporter

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Energy Information Administration Says US Posts 1st Month in 70 Years as Net Petroleum Exporter
Energy Information Administration Says US Posts 1st Month in 70 Years as Net Petroleum Exporter

WASHINGTON (Sputnik) – The United States has posted a full month as a net petroleum exporter for the first time in 70 years, as total shipment of crude oil and other petroleum products exceeded imports in September, the Energy Information Administration (EIA) said in a report published Friday.

The report said the EIA expects total crude oil and petroleum net exports to average 750,000 barrels per day in 2020 compared with average net imports of 520,000 barrels per day in 2019.

The United States is already the world’s biggest crude oil producer, with the EIA estimating output at 12.9 million barrels per day in its weekly petroleum supply-demand report issued Wednesday.

Second largest oil producer Russia is expected to turn out 11.17-11.19 million barrels per day this year, Energy Minister Alexander Novak said in July.

The third largest, Saudi Arabia, was producing 9.9 million barrels per day of crude oil in August, according to EIA estimates.

Sourse: sputniknews.com

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