Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to TASS on whether the United States will be able to oust Saudi Arabia and Russia in the oil market.
Alexey Belogoryev noted that the United States is indeed the largest producer of oil and liquid hydrocarbons, but it also remains one of the largest consumers. According to him, from the point of view of export opportunities, the United States primarily supplies various petroleum products and liquefied natural gas to foreign markets, and the country is still a net importer of oil.
Belogoryev added that even for liquid hydrocarbons, America has become a net exporter (that is, it began to sell more than it bought) most recently, it was only in 2020, and mainly due to petroleum products.
"Therefore, with all due respect to the United States, they cannot replace Saudi Arabia and Russia in the oil market with all their desire," the expert stressed.
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