“EIA estimates that the United States exported 140,000 b/d (barrels per day) more total crude oil and petroleum products in September than it imported; total exports exceeded imports by 550,000 b/d in October”, the agency said in its Short-Term Energy Outlook. “If confirmed in survey-collected monthly data, it would be the first time the United States exported more petroleum than it imported since EIA records began in 1949”.
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.