EIA: Net Export Status Coming Sooner Than Thought

The U.S. will leap into the ranks of world energy net exporters in 2020—two years earlier than projected last year—the U.S. Energy Information Administration (EIA) said Jan. 24 in its “Annual Energy Outlook 2019.”

Significant production growth in crude oil, natural gas and NGL, combined with slow growth in consumption, have changed the import/export paradigm that’s been in place since 1953.

“The headline is that the United States produces approximately 10.9 million barrels per day [MMbbl/d] of crude oil in 2018, passing the 10 million barrel mark for the first time and surpassing the 1970 record of 9.6 MMbbl/d,” said EIA Administrator Linda Capuano.