The U.S. is poised to export more oil and liquids than Saudi Arabia by year-end, according to Rystad Energy. The shift, Rystad explains, comes from continued rising production from U.S. shale plays and increased oil export capacity from the U.S. Gulf Coast. In January, the Energy Information Administration (EIA) released its Annual Energy Outlook for 2019, in which it said in 2020, the U.S. would export more energy than it imports – the first time in almost 70 years. Rystad believes U.S. exports will grow fast with increasingly attractive price spreads, while U.S. demand for imported heavy oil will diminish. “The oil market is overly preoccupied with short-term U.S. crude stocks, but the big picture tells a new story. Increasingly profitable shale production and a robust global appetite for light oil and gasoline is poised to bring the U.S. to a position of oil dominance in the next few […]