mo4ch:>US could soon take Saudi crown to become top global oil exporter – IEA | Mo4ch News

The US could overtake Russia and Saudi Arabia as the world’s top oil exporter by 2024, the International Energy Agency (IEA) has predicted.In its annual oil outlook, the agency forecast rapid growth of American oil supplies to the global market in the next five years, as output from the country’s shale fields continues to surge. In February, US crude oil exports hit an all-time high, with shipments amounting to over 3.6 million barrels a day.“The United States accounts for 70 percent of the total increase in global capacity to 2024, adding a total of four mb/d (million barrels per day). This follows spectacular growth of 2.2 mb/d in 2018,” the organization said in a statement.Saudi Arabia’s total gross exports are predicted to stand at 9.52 million barrels a day in 2024, while US is rapidly closing the gap with the kingdom. In 2023, American oil exports will be on course to overtake Russia’s by around 0.3 million barrels. US crude shipments are projected to stand at 8.93 million barre…