ISLMAABAD – Which country dethroned Saudi Arabia to become World’s top OilExporting nation?
United States dethroned Saudi Arabia as the world’s top oil exporter.
“With oil prices currently about 20 per cent lower than a year ago, therewill be support for consumers,” the IEA said in its monthly report.
“Booming shale production has allowed the US to close in on, and brieflyovertake, Saudi Arabia as the world’s top oil exporter … in June, aftercrude exports surged above 3 million barrels per day (bpd).”
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The Paris-based agency maintained its estimate for growth in global oildemand during 2019 at 1.1 million bpd and 1.3 million bpd for next year.
