HOUSTON: The United States has emerged as the world’s largest oil exporter, surpassing Saudi Arabia and Russia, marking a major shift in global energy markets, according to data cited by Reuters.
U.S. crude and fuel exports rose to approximately 10.5 million barrels per day in May, driven by strong production and drawdowns from strategic reserves, according to ship-tracking data from Vortexa. This placed the United States ahead of Russia, with exports of around 7 million barrels per day, and Saudi Arabia at approximately 5.9 million barrels per day.
The development represents a reversal of decades-long energy dominance by OPEC members and Russia, with analysts attributing the shift to the rapid expansion of U.S. shale oil production over the past decade.
The report noted that U.S. oil output has nearly tripled since 2000, reaching about 22 million barrels per day of crude and liquids production. This growth has been largely driven by private-sector investment and market-based production decisions, contrasting with state-controlled output policies in Saudi Arabia and Russia.
The surge in exports comes amid disruptions to global supply chains, including reduced Saudi exports linked to the U.S.-Iran conflict and declining Russian shipments due to sanctions and Ukrainian drone strikes, the report said.
Energy analysts cited by Reuters said the United States’ expanded export capacity is increasing its influence over global energy markets and reducing the traditional pricing power of OPEC and its allies.
The European Union has increased reliance on U.S. energy imports since the onset of the Ukraine war, while Asian markets have also shifted significantly toward American crude supplies.
The United States previously lifted its long-standing crude export ban in 2015, a policy change that helped accelerate its rise as a dominant global energy supplier.
Analysts said the shift gives Washington greater geopolitical leverage in both economic and diplomatic negotiations, alongside its existing influence through the U.S. dollar and global financial systems.
The report is based on data and analysis published by Reuters.