US Overtakes Saudi Arabia and Russia as Top Oil Exporter, Reshaping Global Energy Markets
The United States has become the world’s leading exporter of crude oil and petroleum products for the third consecutive month, shipping about 10.5 million barrels per day in May. This marks a shift from decades of reliance on Middle Eastern supplies. Disruptions to Saudi exports amid conflict with Iran and sanctions on Russian oil have paved the way for US shale production and strategic reserve releases to gain the top spot. These developments weaken OPEC+ influence on global prices and boost American leverage over key European and Asian consumers. Since lifting its 40-year export ban in 2015, US oil output has nearly tripled to roughly 22 million barrels per day. With Europe now taking about 47% and Asia close to 46% of US shipments, this realignment is transforming trade, policy and the balance of power in global energy.
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