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The United States is expected to become a net exporter of annual crude oil and fuel for the first time in history next year, the EIA said Tuesday, as the surge in crude oil production significantly reduces dependence on foreign oil.
The EIA expects us crude oil production to increase by 930000 barrels per day in 2020 to an average of 13.18 million barrels per day, lower than the previous estimate of an increase of 1 million barrels per day.
According to the EIA, the net exports of crude oil and petroleum products from the United States are expected to reach 570000 barrels per day in 2020.
Over the past 10 years, shale oil production in the United States has increased significantly, helping the United States to become the world's largest crude oil producer and major exporter, with an average daily crude oil export of just under 3 million barrels so far this year.
According to the EIA's monthly short term energy outlook (steo) report, crude oil production is expected to increase by 1.26 million barrels / day to 12.25 million barrels / day in 2019, slightly lower than the previous increase of 1.3 million barrels / day.
"September is the first month in the U.S. data record that crude and refined oil exports exceed imports," Linda Capuano, EIA director, said in a statement
Baker Hughes data shows that production growth in the United States is expected to slow down as drillers reduce the number of active rigs for 12 consecutive months, resulting in a quarter decrease in the number of active rigs in the United States over the past year.


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