The rise of the U.S. as the world’s top oil and gas producer and now growing exporter puts energy at the center of U.S. trade negotiations both as a lever and a potential source of friction.
The International Energy Agency Monday said the U.S. should surpass Russia as an oil exporter in three years and challenge Saudi Arabia for the top spot within five as U.S. oil output continues to grow.
That, together with the expected growth in U.S. exports of liquefied natural gas, is expected to turn the U.S. into the world’s biggest exporter of energy.
Increased sales of U.S. energy are a significant part of trade negotiations between the U.S. and China. Since the U.S. started exporting oil in early 2016, China has been a major importer of U.S. oil and at times, has been the largest. China also imports U.S. LNG and is expected to increase