US briefly overtakes Saudi Arabia as top oil exporter: IEA

Times of India | Sep 13, 2019 at 4:50 AM
  • Global oil demand is weathering economic headwinds, the International Energy Agency (IEA) said on Thursday, buoyed by lower prices brought on by abundant supply as the US briefly dethroned Saudi Arabia as the world’s top exporter.
  • 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, assuming no further breakdown in US-China trade talks and citing an easing of tensions around Iran.
  • US crude exports spiked to more than 3 million bpd in June, as Saudi Arabia cut output sharply and Russia grappled with contamination in one of its main export pipelines.