USA - Energy
The United States became a net exporter of crude and petroleum products, supported by increased domestic shale oil production. US financial news media Bloomberg said 29 November 2019 the US posted its first full month as a net exporter since government records began in 1949. According to data from the Energy Information Administration, the amount of exports grew 18 percent in September, while imports decreased 12 percent. Exports exceeded imports by 89,000 barrels a day. Analysts predict the US is likely to post a full year as a net petroleum exporter next year.
The US is now the largest oil producer in the world, pumping out nearly 13 million barrels per day (bpd), but the companies operating fields in Texas, New Mexico and other states have struggled to make enough money to satisfy investors. By early 2020, oil output more than doubled in New Mexico, generating more than $500m in proceeds from past auctions, and lifting it to become the third-largest US producing state. Colorado rose to the fifth-largest by volume last year. Even before the alliance between OPEC and Russia collapsed, those companies were already pulling back on capital expenditures, and that activity will accelerate. Shale companies need prices at least in the low $40s per barrel to cover direct costs,
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