The United States soon be net exporters of oil

Les États-Unis bientôt exportateurs nets de pétrole

Photo: David McNew / Getty Images / AFP
By 2024, the United States will still supply 70% of the growth in world production capacity of oil.

The United States will continue to pump more black gold, becoming net exporters of oil as of 2021 and to spur the saudi Arabia on world markets, planned for Monday, the international energy Agency (IEA) in its annual report forward on the oil.

This development ” will strengthen the security on the world oil market “, by widening the choice of providers for the consumer countries, particularly in Asia, provides the IEA in the report, which covers the period 2019-2024.

The revolution of the hydrocarbons from shale in the United States has done to this country, traditionally importer of black gold, one of the major oil producers in the world.

This new situation has upset the global oil markets, causing a glut of supply, which led to a fall in crude prices in mid-2014 that the sector is still struggling to recover.

The geopolitical

“This is an extraordinary time for the oil industry, in a context in which geopolitics becomes a more important factor on the markets and where the global economy is slowing. Everywhere you look, new actors are emerging and the certainties of the past disappear, ” noted Fatih Birol, executive director of the IEA, was quoted in a press release.

By 2024, the United States will still supply 70 % of the growth in world production capacity of oil, 4 million barrels per day (mbd), according to the IEA. Overall, the production capacity will increase from 5.9 mbd by 2024, despite an expected slowdown in Iran because of u.s. sanctions, and Venezuela, affected by a political crisis and a major economic.

Share