Image default
Greek News

The US exports more oil than Saudi Arabia

 

The U.S. briefly became the world’s No. 1 oil exporter as record shale production found its way to global customers, and there are prospects for more.

Surging output from shale helped America ship almost 9 million barrels a day of crude and oil products in June, surpassing Saudi Arabia, the International Energy Agency said in a report, citing gross export figures. 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.

Gains in U.S. supply are undermining efforts by the Organization of Petroleum Exporting Countries and its allies, whose production cuts are in their third year in a bid to drain stockpiles. The swelling American output, as well as deepening concerns over global demand fueled by a prolonged U.S.-China trade war, have prompted a drop of almost 20% in benchmark Brent crude from an April high.

Read more HERE

Σχετικα αρθρα

Economics Professor: UFOs could be a big deal for the economy

admin

The oldest depiction of Jesus Christ and of the Crucifixion is located in Mount Sinai Monastery

admin

China Is the World’s Manufacturing Superpower (infographic)

admin

SpaceX accepts Dogecoin as payment to launch lunar mission next year

admin

European Commission approves € 500m for Greek food service sector

admin

FT: Greek GDP estimated to rise substantially Finance Houses say

admin

Which Greek company saw its profits skyrocket by 649%?

admin

2021: Year of the Cryptocurrency (infographic)

admin

Organised beaches to open on Saturday across Greece

admin

Greek state goes to markets – €14-bln offers for 5-year bond

admin

YouTube’s Ad Business Is Almost Matching Netflix in Revenue (infographic)

admin

S&P Ratings Agency upgrades Greek banks

admin