ISLMAABAD - Which country dethroned Saudi Arabia to become World's top Oil Exporting 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, there will be support for consumers," the IEA said in its monthly report.
"Booming shale production has allowed the US to close in on, and briefly overtake, Saudi Arabia as the world's top oil exporter ... in June, after crude exports surged above 3 million barrels per day (bpd)."
The Paris-based agency maintained its estimate for growth in global oil demand during 2019 at 1.1 million bpd and 1.3 million bpd for next year.