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U.S. becoming world's top oil exporter - IEA

  • "Booming shale production has allowed the U.S. to close in on, and briefly overtake, Saudi Arabia as the world's top oil exporter," the IEA said in its closely-watched monthly report.
  • It comes at a time when the U.S. is actively pursuing "energy dominance," putting downward pressure on prices at a time when the market is already struggling to cope with too much supply.
  • "The installation of the necessary pipelines and terminals is continuing apace, which will ensure that the trend continues."
  • ETFs: USO, OIL, UWT, UCO, DWT, BNO, SCO, DBO, DTO, OILU, USL, USOU, OILD, WTIU, USOI, OLO, OILK, SZO, USOD, OLEM, WTID, OILX, USAI, NRGD, NRGU, NRGZ, YGRN, NRGO, AOIL

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