U.S. Shale Surge Offsets Lowest Saudi Oil Imports Since 1980s - Bloomberg

U.S. Shale Surge Offsets Lowest Saudi Oil Imports Since 1980s - Bloomberg:

"America’s role in the global oil market was flipped on its head in 2017. As shale producers cranked out more and more crude, the U.S. relied less and less on some of its traditional sources of oil. At the same time, exports of crude, gasoline and other refined fuels surged higher than ever before. Shale Surge The U.S. bypassed Saudi Arabia late last year and is nipping on the heels of Russia to be the world’s biggest oil producer. November output hit a record of 10.057 million barrels a day after the Energy Information Administration revised its data upward. U.S. frackers ramped up production as prices rose toward $60 a barrel late in the year, drawing more drillers to the market."



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