With the U.S. shale industry sticking its nose bigly under the crude export tent, the kingdom has clearly begun emphasizing refined product exports. (Source: Shutterstock.com)
Shale resources and productivity in the U.S. may have already enabled the country to become the world's largest liquid petroleum exporter, according to available data for the U.S., Russia and Saudi Arabia. And while the U.S. may be achieving this on the rare week when the stars align for the fullstream U.S. energy industry, we believe fundamentals around production, infrastructure capacity, refining and price spreads could lead the U.S. to sustainably taking the top rank for the longer term in the very near future.
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