US overtakes Saudi Arabia and Russia as top oil exporter
Big news: The US has just overtaken Saudi Arabia and Russia to become the top oil exporter on the planet.
In May 2026, US exports hit 10.5 million barrels per day, way ahead of Russia (7 million) and Saudi Arabia (5.9 million).
Not long ago, the US was mostly importing oil, but thanks to a surge in shale production, it's now leading global markets.
Shale surge, US export ban lift
The jump is mostly because of the shale revolution, which nearly tripled US total petroleum production since 2000, reaching about 22 million barrels per day.
Plus, lifting a decades-old export ban in 2015 helped American producers sell more abroad and could weaken OPEC's and its allies' traditional influence over energy prices.
Geopolitical issues like sanctions on Russia and conflicts affecting Saudi exports have also tilted things in favor of the US.