The United States is expected to become a net exporter of annual crude oil

December 10, the EIA said that the United States is expected to become a net exporter of annual crude oil and fuel for the first time in history next year, greatly reducing its dependence on foreign oil due to the surge in crude oil production. EIA estimates that U.S. crude oil production will increase by 93000b / D in 2020, to an average of 13.18 million B / D, lower than the previous estimate of an increase of 1 million B / d. According to the EIA, the net exports of crude oil and petroleum products from the United States are expected to reach 570000 barrels per day in 2020. In the past 10 years, shale oil production in the United States has increased significantly, helping the United States to become the world's largest crude oil producer and major exporter. So far this year, the average daily crude oil export is slightly less than 3 million barrels. EIA said in its monthly short term energy outlook (steo) report that crude oil production is expected to increase by 1.26 million barrels / day to 12.25 million barrels / day in 2019, slightly lower than the previous expected increase of 1.3 million barrels / day. In a statement, Linda Capuano, EIA director, said, "in the U.S. data record, September is the first month in which crude oil and refined oil exports exceed imports." Baker Hughes data shows that production growth in the United States is expected to slow down, as the number of active rigs in the United States has been reduced by a quarter in the past year as the number of active rigs has been reduced for 12 consecutive months. Despite this, Capuano said the decrease in the number of active rigs is expected to be offset by increased rig efficiency and well productivity. EIA will maintain its forecast for us oil demand in 2019 and 2020. The agency expects us demand for oil and other liquid fuels to increase by 80000 barrels / day in 2019 to 20.58 million barrels / day and 170000 barrels / day to 20.75 million barrels / day in 2020. However, the EIA raised its forecast for global oil demand growth in 2020 by 50000 B / D to 1.42 million B / d. Most analysts expect global oil demand growth to slow in 2020 due to a protracted trade dispute between the world's two largest economies.