The US Is Making Its Mark On The Global Oil Market, But How Long Will It Last?
- 5 years ago
The US is expected to become a net energy exporter within the next five years.
According to Business Insider, oil output in the US jumped 20% from 2017 levels in September.
Fracking has helped put the US on its way to becoming a net energy exporter for the first time since the 1950's.
Record output levels, however, come at an uncertain time in the global energy market.
Prices of West Texas Intermediate have fallen by more than a quarter, near $50 a barrel, in the past three months.
According to Business Insider, oil output in the US jumped 20% from 2017 levels in September.
Fracking has helped put the US on its way to becoming a net energy exporter for the first time since the 1950's.
Record output levels, however, come at an uncertain time in the global energy market.
Prices of West Texas Intermediate have fallen by more than a quarter, near $50 a barrel, in the past three months.