The U.S. Has Surpassed Russia And Saudi Arabia In Oil Exports
- 12.06.2026, 8:38
How did that happen?
The United States has officially become the world's largest oil exporter. Washington has managed to displace the long-standing market leaders—Saudi Arabia and Russia.
This was reported by Reuters.
Back in May, U.S. exports of crude oil and fuel rose to 10.5 million barrels per day, and the country has held the lead for the third consecutive month. By comparison, Russia exported only 7 million barrels during the same period, while Saudi Arabia exported 5.9 million barrels.
Interestingly, as recently as the beginning of last year, the Saudis were supplying 8.1 million barrels daily to foreign markets, while the U.S. was shipping only 6.6 million. The war in Ukraine, the situation in Iran, and sanctions have changed everything.
Ukrainian Armed Forces drones and the Strait of Hormuz as the key to U.S. success
The war between the U.S. and Iran, which has been ongoing since February 2026, has blocked a significant portion of supplies from the Middle East. At the same time, Russian exports are suffering from attacks by Ukrainian drones: strikes on oil refineries and storage facilities have significantly reduced Moscow’s capabilities, the article states.
American companies have seized the moment and are filling the gaps.
“Washington now has a new tool it didn’t suspect existed before the war with Iran—energy exports,” said Michelle Bruchard, head of policy at Kpler.
The Collapse of OPEC and the Kremlin’s Failures
U.S. dominance is shattering OPEC’s monopoly, and the organization is losing its ability to dictate prices. In May, the United Arab Emirates, which had been in the organization for nearly 60 years, left the group. This dealt a powerful blow to the oil cartel.
Moscow, too, makes no secret of its irritation. Rosneft CEO Igor Sechin called American firms the main beneficiaries of the crisis. The closure of the Strait of Hormuz brought them windfall profits.
However, Russia had already begun to fall behind the U.S. even before the war. Since 2000, production in the United States has nearly tripled—to 22 million barrels per day.
Why the World Chooses U.S. Oil
Washington now has a new lever of influence. Europe and Asia are switching to American crude on a massive scale. Due to sanctions against Russia and Iran, the EU receives 47% of all U.S. exports. Asia has increased its share of oil purchases from the U.S. to 46%.
EU officials view this boom with mixed feelings. While they are happy to rid themselves of dependence on Russia, they fear becoming too dependent on the U.S.
The relationship between the state and corporations also matters. For example, in Saudi Arabia and Russia, production volumes are determined by the government. In the U.S., things are different: there, the market depends on the decisions of private companies. When oil prices rise, Texas firms simply pump more. This is a natural market mechanism that works better than any quotas.
The American oil boom has proven the skeptics’ predictions wrong, writes Reuters. Ten years ago, no one believed that a former victim of an embargo would top the global rankings.