Look out, OPEC! U.S. to become top 10 oil exporter by 2020
http://money.cnn.com/2017/07/11/investing/us-oil-exports-opec-shale/index.htmlJuly 11, 2017
Increased shale production will transform the U.S. into one of the world's top oil exporters in just a few years, according to a new forecast by the consultancy PIRA Energy Group.
PIRA estimates that American crude exports will grow to 2.25 million barrels a day by 2020, a four-fold increase from 2016.
The boom would put the U.S. in roughly the same league as major oil exporters including the United Arab Emirates and Kuwait.
"In the years ahead, these developments position the U.S. to potentially be one of the 10 largest exporters of crude oil in the world," wrote analyst Jenna Delaney.
The major increase in supply would further undermine the strength of OPEC, which was exporting an average of 25 million barrels a day in 2016....
