Oct 24, 2022 1 min read

US Turning Into Net Exporter Of Petroleum

US Turning Into Net Exporter Of Petroleum

On October 11, JPMorgan CEO Jamie Dimon said that the US should pump more oil amid the world's energy crisis, just days after OPEC+ agreed to a production cut that is equivalent to 2% of the global supply. In a CNBC interview, he said that "America is the swing producer, not Saudi Arabia." We agree.

Notwithstanding the Biden administration's hostility to domestic fossil fuel producers, the US is becoming a net exporter of petroleum products. Consider the following:

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